Search
Fireblocks, Zodia Markets Partner to Improve Cross-Border Payments
14.3.2024
The two crypto firms are attempting to improve cross-border payments via stablecoins for large corporations and institutions
Global BTC Trading App Strike Launches ‘First Fully-Featured Region Outside the US’
29.2.2024
The fiat and bitcoin payments app, Strike, has launched its “first fully-featured region outside the U.S.” According to Jack Mallers, the founder and CEO of Strike, the African continent presents “immense opportunities for financial innovation and economic freedom.” High...
Nigerian Payments Fintech Startup Cleva Secures $1.5 Million in Pre-Seed Funding
10.1.2024
The Y Combinator-backed Nigerian fintech startup has reportedly raised $1.5 million in pre-seed funding. Tolu Alabi, the CEO of Cleva, expressed confidence in her and fellow co-founder Philip Abel’s ability to navigate the competitive fintech market, citing their background as a factor that counts...
Ripple Expands Payments Network to 70+ Crypto and Traditional Payout Markets
10.11.2023
Ripple has expanded its payments network to more than 70 crypto and traditional payout markets. “Accumulatively this adds up to 90% of the global foreign exchange market,” the company explained, highlighting that the Ripple network has facilitated over $30 billion in payment volume...
Ripple Acquires Crypto Financial Services Company Fortress Trust
8.9.2023
Ripple, a leading blockchain and cryptocurrency company, has acquired Fortress Trust, a Nevada-licensed financial services provider for the crypto industry. The purchase expands Ripple’s regulatory licenses and infrastructure to bolster its position in enterprise blockchain solutions. Ripple...
Gold-backed BRICS currency will be 'very hard' to deliver: Lyn Alden
22.8.2023
A BRICS common currency will be challenging to initiate and maintain, though efforts to dethrone the US dollar could have an impact on Bitcoin, says investment strategist Lyn Alden
Blockchain will save financial institutions $10B by 2030: Ripple
30.7.2023
Among the 300 payment leaders surveyed across 45 countries, 97% believe that blockchain will play a crucial role in faster payment systems within the next three years
IMF Official Presents Blueprint for Cross-Border CBDCs
19.6.2023
The international organization wants to help cut the cost of cross-border transactions, without abandoning compliance checks or capital controls
Russia to Trial Digital Asset Settlements in Foreign Trade
17.6.2023
Bank of Russia plans to pilot cross-border payments using digital assets and central bank digital currencies, according to a deputy governor. The top executive believes these alternative instruments could increase efficiency in foreign trade while such settlements will not be permitted inside...
Iran and Russia Talk Crypto Cooperation, Unveil Tool Streamlining Trade in National Currencies
12.6.2023
Experts and business representatives from Iran and Russia have discussed the potential uses of cryptocurrencies and blockchain. The two countries are also collaborating on implementing new financial instruments facilitating bilateral trade in their national fiats. Financial Expo Brings Together...
Russia and China Carry Out Most Settlements in Yuan and Ruble, Russian PM Mikhail Mishustin Says
24.5.2023
The larger portion of payments between Russia and China are now processed using the currencies of the two countries, Prime Minister Mikhail Mishustin revealed. Moscow and Beijing intend to increase mutual trade beyond the $200-billion target this year, added the head of the Russian government....
‘Evil Crypto’ Can Be Used in Foreign Trade, Russia’s Deputy Finance Minister Says
1.5.2023
Cryptocurrency may be bad for investors but it can be useful in international settlements, according to a top government official in Moscow. Russian authorities intend to set up a special committee that would issue permits to operators employing crypto in foreign trade transactions, he indicated....
World’s Largest Regional Organization to Switch to Settlements in National Currencies
29.4.2023
A China-led regional organization that covers more than half of Eurasia intends to transition to settlements in the currencies of its members. While the plan is to abandon the U.S. dollar in mutual payments, participating nations are yet to consider a common currency. Shanghai Cooperation...
Chinese Yuan Overtakes US Dollar as Most Used Currency to Settle Cross-Border Payments in China
27.4.2023
The Chinese yuan is now China’s most used currency for cross-border settlements. According to official data from the State Administration of Foreign Exchange, the Chinese yuan rose to be the most-used currency in March over the U.S. dollar, in a push from the Beijing government...
What are cross-border payments, and how do they work?
14.4.2023
Blockchain cross-border payments enable near-real-time cost-effective transactions across international borders, eliminating banking intermediaries
BIS Releases Report On ‘Project Icebreaker’ — Develops Cross-Border Retail CBDC Payment Model
8.3.2023
The Bank for International Settlements (BIS) has released a report summarizing the “Project Icebreaker” trial, which explored the potential advantages and difficulties of utilizing a retail central bank digital currency (CBDC) in cross-border payments. The experiment was designed...
UAE Launches ‘Financial Infrastructure Transformation’ Program; CBDC Among 9 Key Objectives
14.2.2023
On Feb. 12, 2023, the Central Bank of the United Arab Emirates (CBUAE) announced the launch of a new initiative called the “Financial Infrastructure Transformation Program,” which has nine key objectives. One of these objectives is the research and development of a central bank digital...
Russia Mulls Gold-backed Stablecoin, Lawmaker Confirms After Iran Visit
27.1.2023
Russia may issue a stablecoin backed by gold to use in international settlements, a high-ranking member of the Russian parliament has admitted. The matter has been discussed during a recent visit to Iran where officials have also signaled interest in such an initiative. Iran and Russia Talk...
Aussie 'Big 4' bank mints stablecoin for carbon trading and remittances
19.1.2023
This marks the second "Big 4" bank in Australia to launch an Australian-dollar pegged stablecoin in a bid to boost the digital economy
PayPal Xoom adds cross-border remittance on debit card deposit
13.1.2023
PayPal’s cross-border remittance service called Xoom partnered with Visa Direct to allow debit card holders to receive funds within minutes