Mongol iD Joins RTGS.global as Funds Controller for MNT and KGS, Strengthening UK–Central Asia Payment Corridors

RTGS.global has today announced that Mongol iD, the largest payment infrastructure firm in Mongolia, has joined its global liquidity network as a Funds Controller for the Mongolian Tögrög (MNT) and Kyrgyzstani Som (KGS).

The partnership expands RTGS.global’s reach across Central Asia and The Commonwealth of Independent States (CIS) region, enabling secure, real-time settlement for financial institutions operating in and between Mongolia, Kyrgyzstan and international markets, including the United Kingdom. RTGS.global now has 35+ currencies live on its network. 

Mongol iD’s client base is heavily focused on financial institutions, aligning closely with RTGS.global’s mission to remove friction, cost and counterparty risk from cross-border payments at the institutional level. The company’s growth across the CIS region reflects the increasing demand for more resilient and transparent liquidity solutions in emerging and high-growth corridors. 

The announcement also marks a milestone in Mongol iD’s strategic commitment to the UK market. Supported by a British Government programme, the company is expanding its operations into the United Kingdom, with its founder relocating to Oxford to underline the long-term importance of this move.

Trade flows between the UK and Central Asia are continuing to evolve with UK imports from Kyrgyzstan reaching $2.42 billion in 2024, making the UK the country’s second-largest export partner after China, with total Kyrgyzstan exports surging from $2.99 billion in 2019 to $8.81 billion in 2024. 

Between Mongolia and Kyrgyzstan, bilateral trade is also accelerating. Exports from Kyrgyzstan to Mongolia have grown 31% over the past five years to $9.15 million, while trade in the opposite direction has increased 25% to $1.27 million. These expanding flows highlight the importance of robust, efficient settlement infrastructure to support regional and international commerce. 

Felipe Hillard, Chief Commercial Officer at RTGS.global, said: “Central Asia is a strategically important and fast-growing region for cross-border trade and capital flows. By welcoming Mongol iD as a Funds Controller for Mongolia and Kyrgyzstan, we are strengthening institutional access to real-time, secure settlement in two currencies that are increasingly relevant to UK and global markets. This partnership reinforces our commitment to reducing friction and unlocking liquidity in emerging corridors.” 

Tugstuguldur Baasansuren, Chief Strategy Officer of Mongol iD, added: “Mongolia and Kyrgyzstan are dynamic markets with growing trade relationships both regionally and with the United Kingdom. Joining RTGS.global enables us to deliver greater transparency, resilience and efficiency to financial institutions moving value across these corridors. Our expansion into the UK represents a significant milestone for Mongol iD and demonstrates our ambition to operate at the heart of global financial infrastructure.” 

As a Funds Controller, Mongol iD will provide on-network liquidity and settlement capability for MNT and KGS participants, supporting RTGS.global’s model of decentralised, real-time gross settlement without pre-funding across correspondent chains.

The addition of MNT and KGS further strengthens RTGS.global’s global currency coverage and deepens its presence in the CIS region, positioning the network to support the next phase of growth in Central Asian trade and financial connectivity.