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Reporting on regulatory developments, innovations, and risks in payment systems and settlement processes essential for the transfer of money and securities.

Custody & Infrastructure
Citi, Swift Demonstrate Hybrid Fiat-Digital Settlement Model to Mitigate FX Risk
By Mark Johnston | 19/11/2025
The pilot demonstrates how existing infrastructure can support synchronised payment-versus-payment settlement across traditional and distributed ledger networks.

Trading & Investment
HKIFA Prioritises Deeper Mainland Connectivity, ETF Connect Reform
By Manesh Samtani | 19/11/2025
The HKIFA is pushing for greater investor education in the GBA and further reforms to boost cross-border fund flows.

Tokenisation
ICMA Releases DLT Settlement and Custody Guidance under Project Guardian
By Nithya Subramanian | 18/11/2025
The two reports published as an addendum to the Guardian Fixed Income Framework outline DvP settlement approaches and custody insights for tokenised debt markets.

Anti-Money Laundering
Malaysia Launches PaymentXchange to Digitise Property Payments
By Nithya Subramanian | 18/11/2025
The PaymentXchange will digitise property payments, boost transparency, and strengthen AML compliance as part of broader real estate sector reforms.

Fraud, Scams & Cybercrime
New Zealand Scams Cost NZ$3 Billion, Fuelling Calls for Bank Liability
By Manesh Samtani | 17/11/2025
New report finds significant financial losses and low fund recovery rates, prompting recommendations for stricter provider accountability and reimbursement rules.

Trading & Investment
RBI Updates Repo Rules, Adds Municipal Bonds as Collateral
By Nithya Subramanian | 17/11/2025
The updated directions refine trading and reporting rules, and streamline participation, settlement, and risk management across India’s repo market.

Anti-Money Laundering
Sri Lanka Tables 2026 Budget Targeting Digitisation, AML, Tax Reforms
By Mark Johnston | 17/11/2025
Budget 2026 includes plans for a beneficial ownership registry, a national e-invoicing system, and expanded digital payment incentives.
Payments & Settlements
DBS, Ant International Expand Partnership on Cross-border Payments
By Nithya Subramanian | 17/11/2025
The new agreement links DBS PayLah! to Alipay+’s 150 million-merchant network and sets plans for near-instant remittances and SME-focused digital solutions.

Payments & Settlements
India Rolls Out Forex Services on Bharat Connect Platform
By Nithya Subramanian | 17/11/2025
NPCI Bharat BillPay has integrated CCIL’s FX-Retail platform into Bharat Connect, enabling retail customers to purchase dollars and make remittances at transparent, real-time rates.

Payments & Settlements
Cambodia and Singapore Launch Cross-Border QR Payments
By Nithya Subramanian | 17/11/2025
Cambodian travellers can now make real-time QR payments in Singapore using Khmer Riel via their Bakong-linked local banking apps.
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