Download or read book The Rise of Payment and Contracting Platforms written by Mr. Tobias Adrian and published by International Monetary Fund. This book was released on 2023-06-19 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Note explores the design and governance of platforms to enhance cross-border payments in line with public policy goals. While much innovation in recent years has more narrowly targeted end-user frictions, the vision in this paper is based on the mandate of the IMF, governed by the central banks and finance ministries of 190 member countries. Cross-border payments present the foundation for the global financial system, and its functioning is overseen by the IMF.