cross-border payments News
Latest cross-border payments News
Russia is betting big on crypto, aiming to legalize cross-border transactions in digital currencies by the second half of 2024. In a statement to the Russian newspaper Izvestia, Anatoly Aksakov, the head of the State Duma’s Financial Market Committee, supported…
In a Dec. 6 post on Telegram, the Russian digital settlement platform Exved shares the announcement of its cross-border payment system, which is set to offer a solution for local legal entities engaged in international trade to use cryptocurrencies.
The Committee on Payment and Market Infrastructures has highlighted both the potential and the substantial challenges of adopting stablecoins in global cross-border payments, underscoring their current non-compliance with international regulations.
Lightspark’s recent endorsement of the Universal Money Address standard marks a pivotal development in the realm of global digital payments, inviting a thorough exploration of its potential benefits, challenges, and implications in the rapidly evolving financial technology landscape.
Australian Commonwealth Bank is transitioning cross-border payments to the ISO 20022 Standard, a standard already met by Ripple. CommBank to begin using XRP standard Following Ripple, Australia’s largest financial conglomerate, CommBank, also called the CBA, has announced today, November 17,…
Poly Network has announced that it will integrate open-source, public, and decentralized Layer-1 blockchain, XRP Ledger into its protocol to facilitate cross-chain transactions and cross border payments. Building a Multi-Chain Ecosystem Poly Network, a cross-chain interoperability protocol, will integrate with…
The Bank of Russia, the nation’s central bank, and the Russian Ministry of Finance are seriously considering a reversal of their stance on the use of crypto for cross-border payments given the unfavorable geopolitical climate at the moment, according to…
The Bank of International Settlements (BIS) has released the blueprint of its instant cross-border payments solution dubbed Nexus. The BIS Innovation Hub says the Nexus solution will connect with Instant Payment Systems (IPSs) across nations to offer users superfast cross-border…
The National Bank of Egypt (NBE), Egypt’s largest and oldest bank, has inked a partnership deal with blockchain-based company Ripple, to utilize the latter’s digital payment solution, RippleNet, in order to facilitate cross-border transactions. NBE Uses RippleNet for Cross-Border Payment…
The Hong Kong Monetary Authority (HKMA) and the Digital Currency Institute of the People’s Bank of China (PBOC), are looking to expand the testing of China’s central bank digital currency (CBDC) for cross-border payments. Hong Kong and China Preparing for…
The State Bank of India (SBI), a major Indian bank, has collaborated with Wall Street giant JPMorgan to utilize the latter’s blockchain solution for efficient cross-border transactions. SBI Collaborating with JPMorgan for Blockchain-based Cross-border Payments According to the Economic Times…
The enhanced Payment Services Act passed yesterday requires any entity that facilitates the transmission, exchange, or storage of digital payment tokens (DPT) — otherwise known as cryptocurrencies — to be licensed. Such virtual payment providers will be subject to expanded…
Ripple’s commitment of $50 million in equity funding to MoneyGram has finally been completed with the second investment of $20 million coming through. The capital will help MoneyGram expand their operations without putting financial pressure on the On-Demand Liquidity service…
Vietnam-based TPBank (Tien Phong Commercial Bank) has become the latest member to join Ripple Inc.’s blockchain-powered enterprise-grade payments network RippleNet. This, according to a report by Yahoo! Finance, November 4, 2019. Ripple On-Boards Vietnamese Bank to the RippleNet Network Ripple’s…
Mastercard, a global payments service provider has joined forces with R3, the creator of enterprise-grade distributed ledger technology (DLT) solutions, to develop a blockchain-based cross-border payments platform to enable banks and other financial institutions facilitate frictionless and cost-efficient international payments,…
According to an article published by Bloomberg on August 23, the reason why XRP price has been falling during 2019 could be due to a continuous sale of XRP by Ripple. In response, people have started an online petition on…