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Stablecorp Wants to Reduce Cross-Border Payment Friction
13.10.2022
Cryptocurrencies a ‘Good Alternative to Traditional Settlement Processes’ — Study
25.7.2022
Cryptocurrencies can be a good alternative to conventional settlement processes because they are underpinned by blockchain technology which enables the instant finalization of transactions without the involvement of intermediaries, a new report has said. Some players in the cross-border money...
Co-Founder of Africa Focused Fintech: Traditional Banks Not Optimized to Serve the Unbanked
2.6.2022
For years, traditional financial institutions in different parts of the world have been attempting to narrow the financial exclusion gap by extending their services to the unbanked population. Yet for many reasons, these institutions still cannot avail their products and services to everyone that...
Study: 54% of UAE and Saudi Arabia Survey Respondents Said Crypto Should Be Used for Payments
12.4.2022
An average of 54% of survey respondents from Saudi Arabia and the United Arab Emirates (UAE) said they believe cryptocurrency should be used as currency. Still, a significant proportion of the respective countries’ respondents believe certain obstacles are stopping cryptocurrencies from...
Report: Number of African Cryptocurrency Users up by Nearly 2,500%
22.3.2022
The number of cryptocurrency users in Africa grew by almost 2,500% between January 2021 and January 2022, while the average number of monthly transactions went up by 1,400%, a new report by Kucoin has said. Widespread Adoption of Cryptocurrencies According to a new report by crypto exchange Kucoin...
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...
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...