Project Nexus is a Bank for International Settlements initiative to interlink domestic instant-payment systems across countries through a standardised hub, enabling fast, low-cost cross-border retail payments. Rather than building a single global system, it provides a common protocol that connects existing national fast-payment rails. It is relevant to discussions of cross-border CBDC interoperability and payment-system modernisation.
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- Nexus defines a single connection model so that each domestic instant-payment scheme integrates once with the hub rather than building bilateral links to every other country. It handles FX, message translation, and compliance hand-offs, aiming to bring the speed and low cost of domestic instant payments to cross-border transfers, and provides a template that CBDC systems could also adopt.