Cross-border payments can be slow, expensive, and risky. They are intermediated by counterparties in different jurisdictions which rely on costly trusted relati

This Note explores the design and governance of platforms to enhance cross-border payments in line with public policy goals. While much innovation in recent yea

New technologies are driving transformational changes in the global financial system. Virtual currencies (VCs) and the underlying distributed ledger systems are

Major transformations in payment and settlements have occurred in generations. The first generation was paper-based. Delivery times for payment instruments took