This policy perspectives paper examines the evolving landscape of cross-border payment connectivity in the ASEAN+3 region. It highlights the need for stronger intra- and inter-regional payment connectivity to address inefficiencies in traditional cross-border payment systems and enhance regional integration. It reviews the current architecture of cross-border payments and the progress of bilateral and multilateral initiatives covering fast payment system connectivity, and it explores the emergence of tokenized money, including central bank digital currencies, and stablecoins, as new instruments for cross-border transactions.