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Nalezeno "Cross Border Payment": 42

Kenyan Central Bank Document Discusses Benefits and Risks Posed by CBDC — Public Asked to Comment

12.2.2022
Kenya’s central bank has acknowledged in a recently released document that a central bank digital currency could potentially benefit the country’s financial system. The bank, however, warned that rolling out a CBDC could also pose risks to the same. CBDC’s Impact on Financial...

UAE Based Money Transfer Firm Announces Partnership With Ripplenet

28.1.2022
Al Fardan Exchange, a money transfer firm, has joined up with Ripplenet in a deal that will see the company use the Ripplenet blockchain when sending funds across national borders. Al Fardan’s Reasons for Joining Ripple A United Arab Emirates (UAE)-based money transfer platform, Al Fardan...

New Payment System Seeking to Bolster Intra-African Trade Goes Live

22.1.2022
A new continent-wide payment system that seeks to strengthen African fiat currencies, as well as to boost intra-Africa trade, recently went live. Discussions about onboarding more African countries are still ongoing. SMEs the Main Beneficiaries of the Payment System A new African payment system...

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....

Kenyan Fintech Player: ‘Banking the Unbanked’ Is the Most Important Use Case for Digital Currencies in Africa

28.9.2021
The year 2020 may well go down as the year when blockchain technology and cryptocurrencies, in particular, gained mainstream recognition. The restrictions on movement, as well as the widespread fear of catching a virus, forced many to look for alternative ways of making payments or sending...

New Bank of America Report Says Digital Currencies ‘Could Boost Economic Growth’ in Developing Countries

23.6.2021
A new Bank of America (BOA) research study has found that both central bank digital currencies (CBDCs) and private digital currencies hold “a lot of potential” for increasing financial inclusion in developing countries. In the report, the bank also argues that such “digital...

Former PayPal employees launch decentralized cross-border payment network on Algorand

15.6.2021
“Fueling cross-border transactions with regulated stablecoins to represent fiat on-chain has never been done before,” said Borderless Capital CEO David Garcia

JPMorgan and DBS to launch blockchain cross-border payment platform

28.4.2021
JPMorgan and DBS’ new blockchain interbank platform is designed to complement central bank digital currency projects

Citi and IADB complete cross-border payment pilot with blockchain tech

8.4.2021
IADB disbursed tokenized funds to a recipient in the Dominican Republic using the LACChain blockchain network

IMF Cautions Central Banks May Have to Rethink What Constitutes Reserves

18.12.2020
The IMF warns that central banks may have to rethink what constitutes their reserve currency holdings. In a recent study, the global lender points to the changing geopolitical landscape, technological advances and the impact of the Covid-19 pandemic as events likely to influence the composition...

Thailand’s Largest Bank Snubs Ripple – Selects Stellar-based Blockchain for Cross Border Remittances

12.12.2020
In an apparent snub to Ripple, Thailand’s oldest bank, Siam Commercial Bank (SCB) is set to open a new cross border remittances corridor in partnership with Lightnet, a fintech company that uses the Stellar blockchain. SCB says the partnership opens the door for more efficient cross border...

Hong Kong in Talks With PBOC on Digital Yuan Trial for Cross-Border Payments

6.12.2020
PBOC’s Digital Currency Institute and the HKMA are discussing the technical pilot testing of using e-CNY form making cross-border payments

Remitano Makes Cross-Border Money Transfer Much Easier With New “Cash-Out” Feature

24.11.2020
PRESS RELEASE. To simplify banking and meet its users’ Remittance needs across the globe, Remitano, a global escrow-marketplace, has just launched a smart, free, and safe approach for cross-border money transfers. This system will allow users to send and receive money from other countries...

FSB Report Says Stablecoins Promote Financial Inclusion: Urges Regulators to Tighten Laundering Controls

18.10.2020
The Financial Stability Board (FSB) says stablecoins have the potential to enhance the efficiency of the provision of financial services. The body adds that the hybrid cryptocurrencies have the potential to bring efficiencies to payments (including cross-border payments) as well as to promote...

Nigeria’s Foreign Currency Crisis Boon for Bitcoin: Country Tops Wallet Downloads Ahead of the US

21.8.2020
Nigeria’s weakening naira currency, as well as the shortage of U.S. dollars, are forcing businesses to switch to bitcoin as the means of settling payments for international transactions. Nigerian businesses need the American currency to buy new supplies, as well as to order essential...

Bank of England Still Debating Creation of Central Bank Digital Currency, Says Bailey

15.7.2020
Bank of England (BoE) Governor Andrew Bailey said Monday that the institution is still debating whether it should create a central bank digital currency (CBDC). Speaking at a webinar event, Andrew Bailey admits a CBDC will be a reality in the next few years. He, however, does not provide a time...

Zimbabwe’s Battle To Control Currency Inadvertently Boosts Bitcoin Profile

12.7.2020
Zimbabwe’s deteriorating economic situation is forcing authorities to sign off on some desperate and controversial decisions. Some of such decisions include the abrupt suspension mobile money as well as the recent designation of Zimswitch as a national payment switch. Reserve Bank of Zimbabwe...