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Russia Pushes for Sustainable BRICS Interbank Networks and Payment Systems
24.9.2024
Russia is pushing to develop independent interbank networks and payment systems within BRICS to boost the bloc’s financial influence. Moscow aims to expand cross-border settlements and the use of national currencies in BRICS trade, as part of a strategy to reduce dependence on Western financial...
Hong Kong’s e-HKD project expands into tokenization, programmability
23.9.2024
The Hong Kong Monetary Authority is looking at a potential CBDC from a wide perspective
Hong Kong’s e-HKD project expands into tokenization, programmability
23.9.2024
The Hong Kong Monetary Authority is looking at a potential CBDC from a wide perspective
Bank of Korea to Launch CBDC Payment Trial in Supermarkets
22.9.2024
South Korea’s central bank, the Bank of Korea, will soon allow participants to use digital tokens for payments at supermarkets and convenience stores in a central bank digital currency (CBDC) trial. Starting in December, 100,000 participants will be part of this test. Retail partnerships...
Mastercard, Safaricom Partner on Cross-Border Payments
20.9.2024
Mastercard and Safaricom have partnered to improve payment acceptance and cross-border remittances in Kenya. The partnership will benefit over 636,000 merchants using M-Pesa and enable them to serve customers globally. This collaboration will provide faster and more reliable payment solutions...
Lightning Network-Focused Startup Lightspark Sets Its Sights on Latam
19.9.2024
Lightspark hopes to enter Latin America’s cryptocurrency market through its partners in the region, including exchanges like Bitso and fintech institutions like Nubank. Nicolas Cabrera, Lightspark’s vice president of product, explained that the company will focus on targeting Latin...
World Banking Giants Join Project Agora to Reengineer Cross Border Payments
18.9.2024
Over 40 leading private banking institutions have joined Project Agora, a Bank for International Settlements (BIS) initiative to integrate smart contracts to change the current payment flow standard. The objective is to design a system combining public and private money to enhance cross-border...
Russian Central Bank Eyes Digital Currency to Overcome Cross-Border Payment Obstacles
17.9.2024
Elvira Nabiullina, head of Russia’s central bank, has highlighted challenges in cross-border settlements, including payment issues and falling trade volumes. She emphasized the importance of finding new solutions, such as using digital currencies and cooperating with global partners,...
More than 40 Firms Join Central Bank Group to Explore Tokenization for Cross-Border Payments
16.9.2024
More than 40 financial firms will join central bank group the Bank for International Settlements to explore how tokenization can enhance wholesale cross-border payments in Project Agorá, the BIS said on Monday
In-Depth Study Reveals Stablecoins as Pivotal Players in Global Finance
13.9.2024
As digital economies evolve, stablecoins emerge not just as mere facilitators for crypto trading but as pivotal tools in global financial systems. A comprehensive report by Castle Island Ventures and Brevan Howard Digital, sponsored by Visa, unveils the profound impact of stablecoins on monetary...
Grayscale Launches XRP Trust — Cites Potential to Transform Legacy Financial Systems
13.9.2024
Grayscale Investments has created a new trust for XRP, allowing accredited investors to gain exposure to the cryptocurrency known for facilitating cross-border transactions. The Grayscale XRP Trust functions like other single-asset crypto investment vehicles, holding only XRP. Grayscale’s...
Ireland to probe Google’s AI model for data protection compliance
12.9.2024
The DPC’s inquiry into Google’s AI model development explores the handling of EU citizens’ personal data for training PaLM2
China’s Digital Yuan Nears $1 Trillion in Transactions, PBOC Official Reveals
11.9.2024
China’s digital yuan initiative has advanced considerably, backed by over a decade of research and four years of pilot experimentation, according to Lu Lei, Deputy Governor of the People’s Bank of China (PBOC). Trials for the Chinese central bank digital currency (CBDC) have been...
Mansa Partners With Nigerian Blockchain Platform Bitmama to Boost Cross-Border Payments
8.9.2024
The Nigerian blockchain payment platform Bitmama has partnered with the decentralized finance platform Mansa to improve cross-border payment accessibility in Africa. This partnership aims to enhance consumer payment capabilities and support trade across borders. Mansa’s liquidity solution...
Largest Japanese Banks to Use SWIFT-Linked Stablecoin System for Cross-Border Payments
7.9.2024
The largest Japanese banks—MUFG, SMBC, and Mizuho—plan to use a stablecoin-based system to facilitate cross-border payments in the future. The initiative, Project Pax, replaces correspondent banks with blockchain technology, linking it to SWIFT to allow users to initiate payments conventionally...
Japan’s major banks back new stablecoin project for global trade
6.9.2024
Project Pax, backed by Japan’s top banks, seeks to streamline cross-border transactions using stablecoins, addressing inefficiencies identified by the G20
Russia Begins a Trial of Cross-Border Payment Using Crypto
4.9.2024
The war between Russia and Ukraine has entered its third year. During this time, Western allies in Ukraine…
Okx Approved to Provide Cross-Border Payment Services in Singapore
3.9.2024
Global crypto exchange Okx has secured a license from Singapore’s central bank, the Monetary Authority of Singapore (MAS), allowing it to offer digital payment token services. Gracie Lin, the newly appointed CEO of Okx’s Singapore entity (Okx SG), highlighted the significance of this...
OKX bags Singapore crypto license
2.9.2024
OKX Singapore also announced that it onboarded Gracie Lin, who previously worked at MAS, as its CEO.
Binance Research Report: Blockchain Could Transform Cross-Border Transactions
30.8.2024
Blockchain technology is set to transform the payments industry by tackling persistent issues in cross-border transactions. A detailed report by Binance Research suggests that incorporating blockchain into payment systems could substantially lower costs and speed up settlements, offering a...