Definition ∞ A global payments rail refers to the underlying infrastructure and networks that facilitate the movement of money across international borders. These systems enable cross-currency transactions between different financial institutions and countries. They include traditional correspondent banking networks and newer digital payment systems. The effectiveness of these rails determines the speed and cost of international transfers. It enables worldwide money transfers.
Context ∞ The emergence of central bank digital currencies and stablecoins is actively shaping the future of global payments rails, offering potential for faster and cheaper international transactions. There is considerable discussion around how these digital assets can modernize existing infrastructure and compete with traditional systems. Regulatory frameworks are also developing to govern these new cross-border payment solutions. This area is seeing rapid evolution.
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