Fed's Cross-Border Instant Payment Plan Gets Backing From Stripe, Visa, and Wise

Stripe, Visa, Wise, and multiple industry trade groups have publicly backed the Federal Reserve's plan to expand its instant payment system for cross-border use — a genuinely broad industry coalition supporting faster, cheaper international settlement infrastructure.

Why This Coalition Is Notable

Stripe, Visa, and Wise compete directly in parts of the payments and cross-border settlement space — their joint backing of a Fed-led instant payment expansion suggests genuine, shared industry conviction that the current cross-border settlement infrastructure (still often routed through slower, costlier correspondent banking chains) is a real, common pain point worth solving through shared infrastructure, not something any individual player benefits from keeping fragmented.

• Cross-border settlement speed directly affects any business with international operations, suppliers, or customers — a faster Fed-backed instant payment system would be a genuine operational improvement, not just a payments-industry story
• This complements the BOCHK-Ant International cross-border payments partnership expansion covered earlier this batch cycle — multiple, independent efforts converging on faster cross-border settlement as a priority across different regions and infrastructure approaches