Correspondent Banking
1 articleCorrespondent banking is an arrangement in which one bank provides accounts and payment services to another bank, often across borders. Nostro and vostro accounts allow the respondent bank to access foreign-currency clearing and route transfers through intermediary institutions, with compliance checks and fees applied along the chain. The relationship supports international settlement where banks lack direct access to a market. It is not a retail remittance service or a payment message standard by itself.
Maybank Joins MAS BLOOM Project to Trial Tokenised Settlements
Maybank Group is partnering with the Monetary Authority of Singapore's BLOOM initiative to test tokenised bank liabilities and regulated stablecoins, aiming to offer new alternatives to traditional correspondent banking in cross-border payments