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Australia Uses Blockchain to Enhance Cross Border Trade With Singapore

Australia Uses Blockchain to Enhance Cross Border Trade With Singapore

The Australian Border Force (ABF) is launching a blockchain trial that is targeted at enhancing cross border trades with Singapore

Chinese City Tests Blockchain-Powered Cross-Border Financial Platform

Chinese City Tests Blockchain-Powered Cross-Border Financial Platform

Nanning, a Southern Chinese City, located in Guangxi Region, has experimented with a blockchain-enabled cross-border financial platform.

Western Union Makes Offer to Acquire Cross-Border Payments Firm MoneyGram

Western Union Makes Offer to Acquire Cross-Border Payments Firm MoneyGram

Financial giant, Western Union is in discussions to acquire cross-border payments company MoneyGram according to an anonymous source close to the deal.

How Ripple-Backed Bitso Plans to Expand Cross-Border Crypto Remittance Services in Latin America

How Ripple-Backed Bitso Plans to Expand Cross-Border Crypto Remittance Services in Latin America

Ripple-backed crypto exchange Bitso announced that it will expand its cross-border crypto remittance services in Latin America through a $62 million investment.

China Looking into the Application of Blockchain and AI for Cross-Border Financing

China Looking into the Application of Blockchain and AI for Cross-Border Financing

China is researching the application of blockchain technology and artificial intelligence in cross-border financing, focusing on risk management.

Ant Group Launches Blockchain-Powered System to Help SMEs in Cross-Border Trade

Ant Group Launches Blockchain-Powered System to Help SMEs in Cross-Border Trade

China's Ant Group established a blockchain-enabled smart contract platform Trusple to assist small and medium enterprises (SMEs) for cross-border trades.

China’s First National Level Blockchain Cross-Border Financial System Goes Live

China’s First National Level Blockchain Cross-Border Financial System Goes Live

China Guangfa Bank (CGB), a major Chinese bank, has officially launched the blockchain-based cross-border financial service platform on June 15, with the guidance of the Guangdong Branch of the State Administration of Foreign Exchange.

Thailand’s Bank of Ayudhya Unveils Blockchain-Based Platform for Cross-Border Funds Transfers

Thailand’s Bank of Ayudhya Unveils Blockchain-Based Platform for Cross-Border Funds Transfers

Smart contracts and blockchain play more of a key role in the economic and social growth of modern society. For example, Thailand’s Bank of Ayudhya demonstrates how the use of blockchain technology leverages cross-border funds transfers.

Blockchain-Powered Cross-Border B2B Transactions to Surpass $4.4 Trillion by 2024

Blockchain-Powered Cross-Border B2B Transactions to Surpass $4.4 Trillion by 2024

According to Juniper Research, blockchain-enabled B2B cross-border payments will be more than $4.4 trillion by 2024. This will be a substantial rise from the current $171 billion.

Stellar CEO Denelle Dixon Joins IMF Panel on Cross-Border Payments

Stellar CEO Denelle Dixon Joins IMF Panel on Cross-Border Payments

Stellar CEO Denelle Dixon is slated to take part in the IMF's annual meeting today, to discuss the private-sector’s role in addressing the limitations of cross-border payments.

Singapore’s Central Bank and JP Morgan Build a Blockchain System for Multi-currency Cross-Border Payments

Singapore’s Central Bank and JP Morgan Build a Blockchain System for Multi-currency Cross-Border Payments

Blockchain has been making headlines for quite some time now and banks have been widely talking about distributed ledger technology. Several financial institutions and banks have set up innovation labs to carry out proof of concepts so that to explore modern-day technology. A few days ago, Singapore’s Central Banks and JPMorgan announced that they are working on a blockchain pilot system, which is identified to have the potential to initiate multi-currency cross-border payments.

Chinese Government to Consider Cross-Border East-Asian Stablecoin for Hong Kong Amid Implementing Controversial National Security Law

Chinese Government to Consider Cross-Border East-Asian Stablecoin for Hong Kong Amid Implementing Controversial National Security Law

Chinese officials to consider a cross-border stablecoin in Hong Kong, to facilitate a cross-border payment network between three Asian countries, and four currencies China, Japan, and South Korea. The world’s second-largest economy is aiming to build Hong Kong into an international financial center in the digital economy era. At China’s annual “Two Sessions,” also known as the National People’s Congress, China’s most important annual political event in Beijing, officials set the decision to impose new national security legislation on Hong Kong.

Ripple and Onafriq Forge Alliance for Blockchain-Enabled Payments in Africa

Ripple and Onafriq Forge Alliance for Blockchain-Enabled Payments in Africa

Ripple and Onafriq are collaborating to introduce blockchain-powered cross-border payments, aiming to improve transaction efficiency and financial inclusion in Africa, the GCC, the UK, and Australia.

UAE Central Bank Pioneers Digital Dirham Transfer to China via mBridge

UAE Central Bank Pioneers Digital Dirham Transfer to China via mBridge

The UAE Central Bank achieved a significant milestone by executing its first cross-border digital dirham transfer worth 50 million dirhams ($13.6 million) to China using the mBridge platform on January 29, marking a new era in digital currency transactions.

Hong Kong Monetary Authority's Project mBridge Achieves MVP Milestone

Hong Kong Monetary Authority's Project mBridge Achieves MVP Milestone

Project mBridge reaches MVP stage, exploring CBDCs for cross-border payments.

Ripple (XRP) Transforms Cross-Border Payments with Blockchain Technology

Ripple (XRP) Transforms Cross-Border Payments with Blockchain Technology

Ripple leverages XRP to revolutionize cross-border payments, addressing inefficiencies in traditional banking.

Banque de France and HKMA Collaborate to Enhance CBDC Cross-Border Payments

Banque de France and HKMA Collaborate to Enhance CBDC Cross-Border Payments

The Banque de France (BDF) and the Hong Kong Monetary Authority (HKMA) have announced a collaboration to advance CBDC cross-border payment solutions.

HKMA and NDRC Collaborate on Seminar to Boost Mainland Enterprises’ Cross-Border Financing in Hong Kong

HKMA and NDRC Collaborate on Seminar to Boost Mainland Enterprises’ Cross-Border Financing in Hong Kong

HKMA and NDRC held a seminar to enhance Mainland enterprises' cross-border financing in Hong Kong, aiming to strengthen offshore debt issuance.

JPMorgan Partners with DBS Group and Temasek to Develop Blockchain-Powered Trade Platform

JPMorgan Partners with DBS Group and Temasek to Develop Blockchain-Powered Trade Platform

JPMorgan has partnered with DBS Group Holdings and Singapore-based investment company Temasek to create a blockchain-enabled foreign exchange platform.

Bank of China Achieves Groundbreaking $14 Million e-CNY CBDC Settlement in Gold

Bank of China Achieves Groundbreaking $14 Million e-CNY CBDC Settlement in Gold

The Bank of China's Shanghai branch successfully settled a $14 million e-CNY CBDC for gold, marking a significant advancement in digital currency's role in international trade.

Turkey Leveraging Blockchain to Break US Dollar and SWIFT Dominance

Turkey Leveraging Blockchain to Break US Dollar and SWIFT Dominance

In an effort to break economic ties with the United States and escape the US Dollar dominance of the global markets, Turkey is adopting blockchain and cryptocurrency at a greatly accelerated rate.

FSB 2024 Agenda: Strengthening Crypto Regulation and Embracing AI"

FSB 2024 Agenda: Strengthening Crypto Regulation and Embracing AI"

The Financial Stability Board (FSB) has announced its 2024 Work Programme, focusing on crypto regulation, AI, and digital innovation, aiming to enhance global cooperation and stability in finance.

Citi Forecasts Major Shifts in Cross-Border Payments Landscape

Citi Forecasts Major Shifts in Cross-Border Payments Landscape

Cross-border payments are expected to rise from $150 trillion in 2017 to over $250 trillion by 2027, marking a $100 trillion increase within a decade. Citi's Global Perspectives & Solutions report highlights the transformative potential of the industry, with 90% of financial institution clients believing at least 5% of market share will transition to FinTechs in the next 5-10 years. Challenges include legacy technologies and regulatory obligations.

Bank of China Hong Kong Completes Digital RMB Sandbox Trial

Bank of China Hong Kong Completes Digital RMB Sandbox Trial

Bank of China Hong Kong announces that the second phase of its digital Renminbi (e-CNY) priority experience events, staged in collaboration with Bank of China's mainland branches, was a success.

J.P. Morgan Creates Onyx Blockchain Unit As JPM Coin Leveraged for Cross-Border Payments

J.P. Morgan Creates Onyx Blockchain Unit As JPM Coin Leveraged for Cross-Border Payments

JPMorgan Chase has set the ball rolling by deploying its digital currency, the JPM Coin, for commercial purposes creating a new blockchain business unit dubbed Onyx.

Seven Key Takeaways You Need to Know About Central Bank Digital Currencies

Seven Key Takeaways You Need to Know About Central Bank Digital Currencies

Why are Central Bank Digital Currencies (CBDCs) important? Do we really need them? What are the implications? How will they be designed? Here are seven key takeaways you need to know.

Federal Reserve Chairman Powell to Address IMF on Digital Currencies Next Week

Federal Reserve Chairman Powell to Address IMF on Digital Currencies Next Week

Federal Reserve Chairman Jerome Powell will be speaking to the International Monetary Fund (IMF) next week as part of a panel on cross-border digital payments.

Qatari National Bank to Explore Cross-Border Payment Solutions With Ripple

Qatari National Bank to Explore Cross-Border Payment Solutions With Ripple

The Qatari National Bank (QNB) is set to launch a cross-border payment solution, powered by blockchain payments firm Ripple Labs Inc.

Is Ripple’s Blockchain-Powered XRP Ledger Superior to SWIFT for Cross-Border Payments?

Is Ripple’s Blockchain-Powered XRP Ledger Superior to SWIFT for Cross-Border Payments?

Ripple, compared to SWIFT payments network, may be a cheaper, more transparent, and more secure alternative for the future of payments and online banking.

BIS Survey: 93% of Central Banks Engaged in CBDCs, 15 Retail and 9 Wholesale CBDCs Expected by 2030

BIS Survey: 93% of Central Banks Engaged in CBDCs, 15 Retail and 9 Wholesale CBDCs Expected by 2030

The Bank for International Settlements (BIS) has released a survey revealing that 93% of central banks are now engaged in some form of Central Bank Digital Currency (CBDC) work, with retail CBDCs taking the lead over wholesale CBDCs.

Ripple Outpaced Other Blockchain Companies on Inc's List of Fastest-Growing US Companies

Ripple Outpaced Other Blockchain Companies on Inc's List of Fastest-Growing US Companies

Ripple has outpaced other indigenous blockchain companies on a recently published list of 5000 fastest-growing private companies in the United States.

PayPal Xoom Offers Debit Card Deposit Cross-Border Remittance

PayPal Xoom Offers Debit Card Deposit Cross-Border Remittance

US Paypal customers may send money straight to Visa debit card holders via Xoom. 25 nations, including the Philippines, Sri Lanka, Thailand, Ukraine, and Vietnam, have the feature. The typical wire transfer takes five working days, yet users may access cash in minutes.

China Dismantles $2.2 Billion Underground Banking Operation Leveraging Cryptocurrencies

China Dismantles $2.2 Billion Underground Banking Operation Leveraging Cryptocurrencies

Chinese authorities have dismantled a $2.2 billion underground banking network that used cryptocurrencies to bypass financial controls, seizing $28,000 worth of digital currencies.

ADB Launches Blockchain Project for Cross-Border Securities Transactions in APAC

ADB Launches Blockchain Project for Cross-Border Securities Transactions in APAC

Asian Development Bank (ADB) is going to initiate a blockchain-powered project to connect securities depositories and central banks in the APAC region.

RippleNet Expands Access to Cross-Border Payments in the Asian Market with Thai FinTech Partnership

RippleNet Expands Access to Cross-Border Payments in the Asian Market with Thai FinTech Partnership

Thailand-based fintech company DeeMoney has joined RippleNet to process more efficient money transfers with competitive rates and low fees for all of Asia.

Leading Vietnamese Bank Joins RippleNet to Boost Cross-Border Remittances

Leading Vietnamese Bank Joins RippleNet to Boost Cross-Border Remittances

Orient Commercial Joint Stock Bank (OCB), a large Vietnamese bank with assets worth $4.6 billion, has joined RippleNet as a strategic partner after a 10-month wait.

China expands digital yuan usage for cross-border trade

China expands digital yuan usage for cross-border trade

China is promoting the use of its digital yuan, also known as e-CNY, for cross-border trade in its Belt and Road initiative. The city of Xuzhou plans to allow the use of e-CNY to pay for services and storage charges for goods carried by cross-border trains, with plans to extend its usage to pay taxes and utility services in the city. The Hong Kong Monetary Authority is also testing the digital yuan as a cross-border payment tool in the Guangdong-Hong Kong-Macau Greater Bay Area, while the Chinese government ramps up its CBDC efforts amid a shift away from the U.S. dollar in international trade markets.

Standard Chartered Undertakes First Cross-Blockchain Trade Transaction Between Hong Kong and Mainland China

Standard Chartered Undertakes First Cross-Blockchain Trade Transaction Between Hong Kong and Mainland China

Standard Chartered has made a milestone by completing its first cross-blockchain trade finance pilot transaction between Hong Kong and China.

Bangladesh Records First Blockchain-Based Remittance with Standard Chartered Bank

Bangladesh Records First Blockchain-Based Remittance with Standard Chartered Bank

The partnership between Standard Chartered Bank, bKash of Bangladesh, and Valyou of Malaysia has given Bangladesh its first blockchain-based cross-border remittance service.

MoneyGram CEO Praises Ripple XRP for Providing Speed and Efficiency for Cross-Border Payments

MoneyGram CEO Praises Ripple XRP for Providing Speed and Efficiency for Cross-Border Payments

MoneyGram CEO Alex Holmes praised Ripple for the innovation it was providing to the blockchain and cryptocurrency space.

Ripple to Launch Payment Corridor in Kuwait while Continuing to Seek CBDC Opportunities for XRP

Ripple to Launch Payment Corridor in Kuwait while Continuing to Seek CBDC Opportunities for XRP

Kuwait Finance House (KFH) becomes the first bank in Kuwait to leverage Ripple’s services to settle cross-border payments.

Ripple’s Partner Santander Bank Won’t Use XRP for International Payments Due to Low Adoption

Ripple’s Partner Santander Bank Won’t Use XRP for International Payments Due to Low Adoption

Santander Bank, a major European financial presence and one Ripple’s most prestigious partners is reportedly hesitating to add XRP to its international payments network - One Pay FX

The Reserve Bank of India is Expanding CBDC While Dismissing Privately Issued Stablecoins

The Reserve Bank of India is Expanding CBDC While Dismissing Privately Issued Stablecoins

The Reserve Bank of India (RBI) is planning to increase the number of Central Bank Digital Currency (CBDC) transactions to one million per day by the end of 2023, according to Deputy Governor T Rabi Sankar.

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