No. 28/24/DKom
As a form of commitment to strengthening cross-border payment system connectivity, Bank Indonesia (BI) has officially joined Project Nexus. Bank Indonesia will prepare and implement Nexus in synergy with five other central banks, namely Bank Negara Malaysia (BNM), Bangko Sentral ng Pilipinas (BSP), the Monetary Authority of Singapore (MAS), Bank of Thailand (BOT) and Reserve Bank of India (RBI).
BI Governor, Perry Warjiyo, confirmed that Indonesia's participation in project Nexus is a strategic step towards providing efficient and affordable cross-border payment solutions for communities and businesses in Indonesia. Indonesia is one of the largest remittance corridors worldwide, both as a major country of origin for migrant workers and as a recipient of remittances. In addition, more integrated and seamless cross-border payment connectivity would also improve economic and trade relations between Indonesia and other countries in the region.
As an initiative led by the Bank for International Settlements (BIS), Project Nexus launched in 2021 to strengthen cross-border payment linkages by connecting domestic instant payment systems (IPS). In 2025, Project Nexus entered the implementation phase, as signalled by the establishment of Nexus Global Payments (NGP) by several central banks. Previously participating as a special observer, Bank Indonesia has now pledged its full commitment to participation as a Nexus member, thereby developing its instant payment system, namely BI-FAST, to connect with Nexus. Furthermore, connecting BI-FAST with Nexus is expected to strengthen the efficiency and affordability of cross-border transactions, while increasing financial inclusion. The initiative also supports the national interest by maintaining sovereignty, while ensuring that the clearing and settlement of domestic transactions are processed domestically.
The move is an integral part of the Indonesia Payment System Blueprint (BSPI) 2030 and also consistent with the Regional Payment Connectivity framework launched by ASEAN in 2022. Strengthening connectivity is expected to create more efficient and affordable cross-border payment solutions, thus fostering economic growth, financial inclusion and sustainable development. BI and NGP synergy also supports the cross-border payment reform agenda announced by the G20. Moving forward, Bank Indonesia will continue expanding its cross-border payment network by strengthening collaboration with central banks and relevant authorities in various jurisdictions.
The Nexus Global Payments announcement can be viewed at:
https://www.nexusglobalpayments.org/media/
Jakarta, 2nd February 2026
Communication Department
Ramdan Denny Prakoso
Executive Director
