Bank Indonesia Joins Nexus, Prepares Cross-Border Payment Integration

JAKARTA, Investortrust.id — Bank Indonesia or BI joins the Nexus project on Tuesday, Feb 3, 2026 in Jakarta to strengthen cross-border payment connectivity by preparing the integration of BI-FAST into a global instant payment network led by the Bank for International Settlements. The move is expected to enable faster, cheaper, and more efficient international transactions while supporting trade, remittances, and financial inclusion.

BI Governor Perry Warjiyo said Indonesia would prepare and implement Nexus alongside five other central banks, namely Bank Negara Malaysia, Bangko Sentral ng Pilipinas, Monetary Authority of Singapore, Bank of Thailand, and the Reserve Bank of India. He said the collaboration reflected Indonesia’s commitment to advancing efficient cross-border payment solutions.

Perry said Indonesia’s participation in Nexus was a strategic step to provide affordable and reliable international payment services for households and businesses. He noted that Indonesia ranked among the world’s largest remittance corridors, both as a major source of migrant workers and as a recipient of remittance inflows.

He added that more integrated and seamless cross-border payments would strengthen Indonesia’s economic and trade relations with regional partners. The initiative was expected to reduce transaction friction and settlement costs.

BI Executive Director for Communications Ramdan Denny Prakoso said Nexus was a BIS initiative launched in 2021 to improve cross-border payments by interlinking domestic instant payment systems. By 2025, the project had entered the implementation phase marked by the establishment of Nexus Global Payments by participating central banks.

BI, which previously participated as a special observer, has now committed to full membership in Nexus. The central bank would develop its instant payment system, BI-FAST, to enable direct connectivity with the Nexus network.

The interconnection of BI-FAST with Nexus was expected to enhance efficiency and affordability of cross-border transactions while strengthening financial inclusion. BI said the initiative would also safeguard national interests by ensuring that domestic clearing and settlement processes remained within Indonesia.

BI’s participation in Nexus formed part of the implementation of the Indonesia Payment System Blueprint 2030 and aligned with ASEAN’s Regional Payment Connectivity framework launched in 2022. The strengthened connectivity was expected to support economic growth, financial inclusion, and sustainable development.

BI said its synergy with Nexus Global Payments also supported the G20 agenda on cross-border payment reform. Going forward, the central bank planned to continue expanding international payment networks through deeper collaboration with central banks and relevant authorities across jurisdictions.