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Provision Allowing Cryptocurrency Payments in Foreign Trade Added to Russian Bill
29.5.2022
A proposal to permit companies to use cryptocurrency in cross-border settlements has made its way to a draft law designed to regulate Russia’s crypto space this year. According to a press report, the finance ministry has introduced a number of revisions to the legislation it has been working...
SWIFT Is Experimenting With Decentralized Technologies to Allow CBDC Interconnection
22.5.2022
SWIFT, the interbank payments protocol and messaging system, has announced it is working to connect the different central bank digital currency (CBDC) protocols in development today. The company has partnered with Capgemini, a digital services provider, making a series of experiments to ensure that...
National Bank of Ukraine Temporarily Bans Cross-Border Crypto Purchases With Hryvnia
22.4.2022
The central bank of Ukraine has introduced additional restrictions on international transactions that will prevent Ukrainians from buying crypto assets abroad with the national fiat. The measures are intended to reduce capital outflow amid an ongoing military conflict with Russia. Ukraine Citizens...
Russian Chamber of Commerce Suggests Using Cryptocurrencies in Settlements With Africa
14.4.2022
Employing crypto in cross-border payments is one of the proposals put forward by the Russian Chamber Of Commerce lobbying for more cooperation with African countries. Amid unprecedented sanctions limiting Russia’s ability to trade internationally, the head of the board has urged...
Cross-Border CBDC Payments Are 'Viable,' Says Report From Central Banks of Australia, Malaysia, Singapore and South Africa
22.3.2022
The tool to enable paying using different assets, tested by Australia, South Africa, Singapore and Malaysia, is the latest foray into trialling the applications of central bank digital currencies
BIS joint pilot: Institutions can use CBDCs for international settlements
22.3.2022
The experimental CBDC platform proved that the design approaches used to address three major issues: access, jurisdictional boundaries, and governance were effective
EU Commission to remove Russian banks from SWIFT cross-border network
27.2.2022
While condemning the Russian president Vladimir Putin’s move to lay siege across Ukraine, the EU Commission committed to undertake a series of measures to isolate Russia from the international financial system
Bahrain Central Bank Completes Cross-Border Transfer Test Using JPMorgan Blockchain
14.2.2022
The Central Bank of Bahrain (CBB), working in partnership with Bank ABC, recently announced it had successfully tested the transfer of funds across borders using JPMorgan’s JPM Coin. The test fulfills the central bank’s goal of creating safe and efficient settlement solutions...
Global Regulators ‘Going Full Steam’ on Crypto — Official Says ‘Current Structure Is No Longer Fit for the Purpose’
11.2.2022
Global regulators are “going full steam” on cryptocurrency regulation. “The current structure is no longer fit for the purpose with the development of cross-border digital market activities,” said the chairman of France’s markets watchdog AMF. Global Regulators...
North America to lead growth in blockchain market, new report says
3.2.2022
Blockchain market size is expected to reach $104.19 billion by 2028, exhibiting at a CAGR of 55.8% across the forecast period as per the report
Malaysia’s Central Bank actively assessing CBDC options
18.1.2022
Malaysia’s central bank recently completed a proof-of-concept for a CBDC with three other nations and may consider developing its own cross-border payment system using the blockchain
Creator of App for Remittances to Africa and Asia Raises $65 Million in Series B Round
26.12.2021
Tap Send, the creator of a remittances app of the same name, revealed it has raised $65 million in a Series B funding round. The fintech firm plans to use the funds to build a cheaper and faster cross-border money transfer platform. Remittances to Overlooked Countries The fintech startup behind...
100 Companies Fail to Obtain Crypto Licenses in Singapore Due to Tough Regulation
22.12.2021
More than 100 companies that applied for a license to offer crypto services in Singapore have either been turned down or withdrawn their applications. “Cryptocurrencies could be abused for money laundering, terrorism financing, or proliferation financing due to the speed and cross-border...
Cross-Border NHL Games Have Been Postponed Due to the Holiday Season
20.12.2021
Due to a high number of COVID-19 infections mostly in the league, the NHL has delayed all cross-border matches until the beginning of the Christmas holidays on December 23rd. And the NHL’s chances of competing in the Olympics in Beijing seem to be fading. The NHL, as well as the National...
IMF Advises How Crypto Should Be Regulated Citing ‘Urgent Need for Cross-Border Collaboration’
11.12.2021
The International Monetary Fund (IMF) has outlined some recommendations of how cryptocurrency should be regulated, noting that there is an urgent need for cross-border collaboration and cooperation on cryptocurrency regulation. IMF Provides Recommendations on Crypto Regulation The International...
Central Banks of France, Switzerland and BIS Complete Cross-Border CBDC Trial
9.12.2021
Bank of France, the Swiss National Bank (SNB), and the Bank for International Settlements have successfully tested the application of wholesale central bank digital currency in cross-border payments. The project used distributed ledger technology and was realized with help from private firms....
Tribal Credit taps Bitso and Stellar to enable cross-border B2B payments
9.12.2021
The partnership between Tribal Credit, Bitso and Stellar Development Foundation will rely on crypto to streamline B2B transactions in Latin America
Palau partners with Ripple on climate friendly national digital currency
24.11.2021
The partnership will help Palau be climate-friendly while enhancing its cross-border payments and digital currency technologies
Kenya Central Bank Governor on CBDC: It’s About Getting It Right Rather Than Being First
22.11.2021
The Central Bank of Kenya (CBK) governor, Patrick Njoroge, has said his institution is currently exploring the use of central bank digital currencies (CBDC) to settle cross-border payments. Njoroge however insists the bank’s priority is getting it right rather than being the first....
B2B firms want cross-border payments but skeptical of crypto: Survey
12.11.2021
Only 2% of B2B firms have adopted crypto payments so far, while 59% indicated no intention to accept it, one survey says