Asia Cross-Border Payments: Growth Hinges on Interoperability

Money20/20, the world’s leading fintech show and the place where money does business, is launching a join report together with FXC Intelligence at Money20/20 Asia in Bangkok, revealing that Asia-Pacific’s cross-border payments volume is projected to nearly double by 2032, reaching $23.8 trillion, up from $12.8 trillion in 2024. This rate of growth outpaces the global average and is set to raise Asia-Pacific's share of global cross-border flows to 36.8% by 2032. 

Drawing on market sizing data and insights from more than 100 industry stakeholders, the report, How Will Asia’s Money Move in the Future? 2025’s View of 2035, explores the trends, technologies, innovations, and policy shifts expected to shape Asia’s cross-border payments landscape over the next decade.

Key Highlights from the Report:

• An Expanding Cross-Border Payments Landscape In 2024, Asia-Pacific accounted for 32.2% of global outbound retail cross-border payments, totaling $12.8tn, according to FXC Intelligence market sizing data released for the first time in the report. By 2032, the region is projected to reach $23.8tn, growing faster than the global average and increasing its share of global flows to 36.8%.
• A Future Powered by Interoperability and Technology The report finds that 88% of stakeholders view interoperability as “very or extremely important” to Asia’s payment future. 66% believe real-time payment systems will lead the way, followed by digital wallets (59%), with additional momentum from CBDCs, stablecoins, QR codes, and APIs.
• Consumer Behavior, Policy, and Private Innovation Drive Change Stakeholders cited consumer habits (79%), regulatory policy (86%), and technological innovation (79%) as the most important factors influencing future infrastructure. While B2B and B2C continue to dominate in volume, B2C payments are expected to see the fastest growth due to ecommerce and subscription service expansion.
• Cross-Border Change Accelerates Initiatives such as Project Nexus, regional policy alignment, and public-private partnerships are beginning to lay the foundation for a more seamless cross-border experience. However, most industry leaders agree that the region’s diversity makes a single dominant solution unlikely in the foreseeable future.

“We’re seeing a significant acceleration in how cross-border money moves, and the next decade will be crucial in shaping the infrastructure that powers it,” said Scarlett Sieber, Chief Strategy and Growth Officer at Money20/20. “Asia’s future lies not in a one-size-fits-all model, but in interconnected systems that balance innovation with regional adoption.”

“Asia’s payments landscape is evolving quickly—but also with remarkable complexity,” said Daniel Webber, Founder and CEO of FXC Intelligence. “This report underscores the need for intentional collaboration across borders, sectors, and technologies to create truly inclusive financial ecosystems. Interoperability isn’t just a tech challenge—it’s a regional opportunity.“

The report makes clear that Asia stands at the edge of a significant shift. With deep-rooted infrastructure diversity, rising consumer demand, and accelerating digital innovation, the region is moving from fragmented systems to more interoperable networks. While no single technology is expected to dominate, the path forward will be shaped by smart policy, scalable tech, and a collaborative approach across markets.

Download the full report: How Will Asia’s Money Move in the Future? 2025’s View of 2035 here.