The Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, has joined the push for an ASEAN cross-border payment connectivity. The BSP has joined the central banks of Indonesia, Malaysia, Singapore, and Thailand in agreeing to strengthen and enhance cooperation on payment connectivity. The cooperation will support faster, cheaper, more transparent, and more inclusive cross-border payments, the central banks said on the sidelines of the G20 Leaders' Summit held in Bali, Indonesia. Accelerating economic and financial digitalization has become a global initiative, with the G20 establishing its Roadmap for Enhancing Cross-Border Payments.
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