CPMI to Improve Cross-Border Payment Standards by 2027

The Committee on Payments and Market Infrastructures (CPMI) will operate a work program focused on improving cross-border payments and digital innovation from April 2025 to March 2027. This program will discuss stablecoins, tokenization, and central bank digital currencies (CBDCs). CPMI is an organization that creates international payment standards and monitors their implementation, including risk management for financial market infrastructures (FMIs) and digital innovation. A brief released on May 27, 2026, explained that expanding access to payment systems and designing interoperability are the foundations for improving cross-border payments. ISO 20022 is the international standard for payment messages, and CPMI requires consistency in data elements by the end of 2027. The digital innovation track examines the work of central banks related to retail CBDCs and crypto-assets. CPMI and the International Organization of Securities Commissions (IOSCO) are expected to revise guidelines for central clearinghouse resilience and disclosure standards. Discussions on payment transparency related to anti-money laundering are also ongoing. Industry responses have been limited, but there are evaluations that the Legal Entity Identifier (LEI) enhances transparency in the payment chain. Changes in the language of payment infrastructure are underway, with discussions on international standards focusing on speed, identification, transparency, and accessibility.

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