cross-border transactions
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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
Nanning, a Southern Chinese City, located in Guangxi Region, has experimented with a blockchain-enabled cross-border financial platform.
World Bank Pushes to Raise the Bar for FinTech and DLT for Cross-Border Interoperability and Financial Inclusion
The World Bank Group has recently published a study, issued by the Bank for International Settlements (BIS) on “Payment aspects of financial inclusion in the FinTech era,” highlighting the concepts derived using blockchain, including stablecoins, and central bank digital currencies (CBDCs).
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.
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.