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BIS and Central Banks of France, Singapore and Switzerland Successfully Test Cross-Border CBDC Using DeFi
28.9.2023
The Bank for International Settlements (BIS) and central banks of France, Singapore, and Switzerland have jointly announced a successful test of cross-border trading and settlement for wholesale central bank digital currencies (wCBDCs).
This test incorporated innovative decentralized finance...
Moneygram Introduces Non-Custodial Crypto Wallet for Cross-Border Payments
26.9.2023
Moneygram, a leading money transfer company, announced plans to launch its own non-custodial digital wallet in partnership with the Stellar Development Foundation. The wallet will enable users to convert between fiat and digital currencies when sending cross-border payments. Moneygram Partners With...
Bahrain’s Bank ABC using JPMorgan’s Onyx blockchain for cross-border payments
26.9.2023
After two years of experiments, JPMorgan and the Bahraini bank will offer U.S. dollar payment settlement in several countries, with plans to expand to euro service as well
What Is XRP? A Brief History of the Real-Time Gross Settlement System
13.9.2023
While Ripple has its critics, there exists a passionate ‘army’ of XRP advocates who firmly believe it represents the future of decentralized finance and cross-border settlement. In this Learning and Insights guide, our objective is to walk you through a brief history of Ripple and...
JPMorgan Mulls Blockchain-Based Deposit Token, Report
10.9.2023
America’s biggest bank by assets, JPMorgan Chase, is exploring a blockchain-based deposit token for cross-border payments and interbank transfers. If approved by regulators, the banking giant may create the digital asset, which would be different from its existing JPM Coin as it could be used...
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...
Visa Taps Solana and USDC Stablecoin to Boost Cross-Border Payments
5.9.2023
The company said it is one of the first major payment institutions to use directly the Solana network for settlements
RBI Governor Touts CBDC as Solution to 'High Cost, Low Speed' Cross-Border Payments
5.9.2023
Reserve Bank of India’s (RBI) Governor Shaktikanta Das has touted Central Bank Digital Currencies (CBDCs) as a solution to 'high cost, low speed' cross-border payments.
In a recent keynote address at the G20 TechSprint Finale 2023 in Mumbai, RBI Governor emphasized the potential of CBDCs...
Governments See CBDCs Making Their Countries ‘More Economically and Financially Efficient’ — Venom Foundation CEO
29.8.2023
According to Louis Tsu, the CEO of Venom Foundation, governments that are seeking to introduce central bank digital currencies (CBDCs) are not being driven by the fear that privately issued digital currencies may soon become the preferred method for cross-border and micropayments. Instead, some...
Vietnam, the Philippines, and Brunei to Join ASEAN QR Payment System to Reduce Dependence on US Dollar
29.8.2023
Vietnam, the Philippines, and Brunei will join a QR payment system to settle cross-border payments using local currencies within the Association of Southeast Asian Nations (ASEAN) bloc. The network, already being used between Indonesia and Malaysia, aims to interconnect all ASEAN nations to reduce...
Digital Yuan ‘Spurs Rise in Mainland China-Hong Kong Cross-border Payments’
24.8.2023
The Chinese digital yuan pilot’s spread to Hong Kong may be playing a part in driving up cross-border payments, media outlets have suggested.
Per China Fund News, via the Securities Times, certain types of “cross-border payments” between Mainland China and Hong Kong, as well as the mainland...
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
Latam Insights — Javier Milei’s Victory Divides Argentina; Bitso Launches Cross-Border Institutional Payment Service
21.8.2023
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Javier Milei’s victory in Argentina causes a devaluation maelstrom, and Bitso launches a cross-border institutional payments service. Javier...
Tron’s cross-border payments: Unlocking financial inclusion
14.8.2023
In blockchain technology, Tron stands out as a prominent platform renowned for its remarkable speed and scalability. This has earned it widespread recognition in diverse industries, including the ever-thriving online gambling sector. Among the various applications that Tron has offered,...
BRICS Expansion to Make West Recognize New World Order, De-Dollarization: UAE Professor
12.8.2023
The accession of new members will allow BRICS to push the West to accept changes in international relations, an expert from UAE has been quoted as stating. That’s valid in particular for cross-border trade and de-dollarization, said Mohamed El Yattioui, professor at the American University in...
Ripple and BIS Partner for Cross-Border Payments Interoperability Task Force
11.8.2023
Ripple has partnered with the Bank for International Settlements (BIS) to join its cross-border payments interoperability and extension (PIE) task force.
In a Wednesday tweet, the BIS shared a summary of its recent PIE task force meeting, which claimed that the members of the task force will work...
Ripple joins BIS cross-border payments task force
10.8.2023
The task force is a part of the Bank of International Settlements' Committee on Payments and Market Infrastructure
Canadian Police Unit Utilizes Chainalysis Blockchain Forensics for Cryptocurrency Investigations
9.8.2023
Officials in law enforcement from Lethbridge, situated in the province of Alberta, Canada, have unveiled that the Lethbridge Police Service (LPS) is now utilizing Chainalysis blockchain forensics software. According to local reports, LPS has acquired the capacity to trace cryptocurrency...
Belarus Prepares to Launch ‘Cross-Border’ CBDC – Russia’s Digital Ruble an Inspiration?
8.8.2023
Belarus is set to follow suit with Russia’s CBDC development plans – and plans to launch a digital version of the Belarusian ruble for use in “cross-border” payments.
Per Minsk-Novosti and Interfax, the National Bank of the Republic of Belarus (NBRB) has earmarked the launch of CBDC as one of...
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