At the 10th Annual Conference of Mediterranean Central Banks, Central Bank of Malta Governor Alexander Demarco outlined how jurisdictions can improve cross-border payments while retaining sovereignty. Speaking on a panel about payments in a changing geopolitical landscape, he emphasized strengthening national payment infrastructure before connecting systems internationally. Demarco advocated infrastructure that uses central bank money for settlement and common international messaging standards, supported by strong regulation, effective competition, transparent fees and safeguards against fraud and privacy risks. Jurisdictions could then connect through bilateral and multilateral arrangements to make cross-border transactions faster, cheaper and more transparent.
Central Bank of Malta governor outlines foundations for faster and cheaper cross-border payments
Central Bank of Malta Governor Alexander Demarco called for stronger national payment infrastructure based on central bank money and common international messaging standards. He said bilateral and multilateral links could then make cross-border payments faster, cheaper and more transparent while preserving national sovereignty.