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Tobias Adrian: Cross-Border Payments for the 21st Century

January 19, 2023

Tobias Adrian says the crypto universe has fundamental problems, but the technologies could be used in a way that provides a public good. (IMF photo)

Most countries have infrastructure and governance structures that allow the private sector to take advantage of new technologies to innovate and improve payment and financial services. But at the international level, it’s a different story. Cross-border payments are as slow, expensive, and risky as ever. IMF Financial Counsellor, Tobias Adrian, and coauthors published some new research on creating a Multi-Currency Exchange and Contracting Platform that would effectively transform the cross-border payment system. In this podcast, Adrian says payments are the foundation for the entire monetary and financial system, and new technologies can help get global payments right. Transcript

Tobias Adrian is the IMF Financial Counsellor and Director of the Monetary and Capital Markets Department.