The Financial Stability Board (FSB) published a progress report on the G20 cross border payments roadmap. The initiative aims to improve payments across four dimensions: cost, speed, transparency and access. Only marginal improvements have been noted since measurement started in 2023. The FSB said it is “unlikely that satisfactory improvements at the global level will be achieved in line with the 2027 Roadmap timetable.”
For example, the targets aim to have 75% of all payments – wholesale, retail and remittances – credited within one hour with the remainder within 24 hours. The figures underscore why businesses are so interested in stablecoins and tokenized deposits for payments, given these enable money to arrive in seconds.
According to the FSB statistics, just 2.2% of B2B payments are credited within the hour and 39.6% within a day. The 24 hour arrival figure shows a sharp deterioration from 54% in 2023. This period coincides with rising interest rates, which increased liquidity costs for banks.
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