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The Nepal Rastra Bank has reportedly initiated an exercise to revise the Nepal Rastra Bank Act in order to enable the central bank to issue digital versions of the Nepali currency. Revati Nepal, chief of the currency management department at the central bank. said that "a task force formed by the central bank has drafted an amendment bill to authorize the Nepal Rastra Bank to issue and manage a digital currency."

Nepal Rastra Bank (NRB) published a concept report on central bank digital currency (CBDC) for public consultation. The report recommends that the NRB move forward in with CBDC issuance plans, with design focusing on four policy goals; improving access to payments, enhancing payment system resilience, reducing currency management costs, and promoting financial inclusion. It suggests that a retail, intermediated, semi-centralized infrastructure-based CBDC that is interoperable with other domestic payment systems, is most suitable for Nepal. Also, it should be unremunerated, available 24/7 hours, quantity restrictive, and programmable for broader usage options. The next steps is to set up a cross-functional dedicated team, to carry out the exhaustive and rigorous next steps.

Travelers from several countries in Asia and Europe can now use their mobile payment apps to pay at over 875,000 merchants across Nepal. This is enabled by a partnership between Nepal Clearing House Limited (NCHL) and Ant International, the operator of Alipay+. The collaboration, allows users of Alipay+ to make payments by scanning NEPALPAY QR codes. Supported payment apps include Alipay (China), AlipayHK (Hong Kong SAR), MPay (Macao SAR), Touch 'n Go eWallet and MyPB (Malaysia), GCash (Philippines), Naver Pay and Toss Pay (South Korea), TrueMoney (Thailand), Hipay (Mongolia), Tinaba (Italy), Changi Pay, and OCBC Digital (Singapore).

The Nepal Rastra Bank (NRB) set up a task force to study the feasibility of introducing of issuing central bank digital currency (CBDC). Revati Prasad Nepal, executive director at the central bank's currency management department reportedly said that the task force is expected to deliver its concept note within the next two weeks, and that he expects it would take at least two-to-three years before a CBDC might be issued. The NRB has also formed a steering committee headed by deputy governor Bam Bahadur Mishra to make recommendations regarding the CBDC after discussing the concept note. https://www.nrb.org.np/contents/uploads/2021/10/Monetary-Policy-2021-22.pdf

Nepal's central bank has given approval to Nepal Clearing House to operate the national payment switch. The payment gateway will integrate multiple banks, digital payment vendors into one system enabling them to transfer funds. In the first phase, all non-card transactions that are done through mobile banking, e-banking, e-wallet or QR code will be routed through the switch. In the third phase, all domestic electronic transactions will be routed through the switch.

According to Chainalysis, global crypto adoption has leveled off in the last year after growing consistently since mid-2019. Emerging markets dominate the index. Out of the top 20 ranked countries, ten are lower middle income (:Vietnam, Philippines, Ukraine, India, Pakistan, Nigeria, Morocco, Nepal, Kenya, and Indonesia), eight are upper middle income (Brazil, Thailand, Russia, China, Turkey, Argentina, Colombia, and Ecuador) and two are high income (United States and United Kingdom).

India's National Payments Corporation of India (NPCI) has extended access to the Unified Payments Interface (UPI) to non-resident Indians from 10 countries (Australia, Canada, Hong Kong, Oman, Qatar, Saudi Arabia, Singapore, United Arab Emirates, United Kingdom, and the United States). Indians living abroad comprise the world's largest overseas remittance-sending diaspora.  Other countries like Nepal, Bhutan, and Singapore, have already signed deals with NPCI to integrate their payment networks with UPI, enabling seamless cross-border payments. https://www.npci.org.in/PDF/npci/upi/circular/2023/UPI-OC-161-Extension-to-UPI-Circular-No-60-Crediting-Debiting-Non-Resident-accounts-in-UPI.pdf