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HSBC and Wells Fargo Utilize Blockchain Technology, Enhancing Foreign Exchange Transactions

HSBC and Wells Fargo Utilize Blockchain Technology, Enhancing Foreign Exchange Transactions

HSBC and Wells Fargo have formed a strategic agreement to use a settlement ledger powered by blockchain technology when undertaking foreign exchange (FX) transactions meant to minimize settlement risk.

Ripple to Cash In One-Third of its Stake in MoneyGram

Ripple to Cash In One-Third of its Stake in MoneyGram

Leading blockchain payments company Ripple plans to sell a third of its stake in American money transfer firm MoneyGram.

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.

Hong Kong Blockchain Startup Bitspark Announces Closure Amid Coronavirus Outbreak and Protests

Hong Kong Blockchain Startup Bitspark Announces Closure Amid Coronavirus Outbreak and Protests

Bitspark, a blockchain remittance startup based in Hong Kong recently announced its abrupt closure, stating internal restructuring issues.

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.

South Korea's Top Remittance Payment Company Global Money Express Joins RippleNet to Expand Payments into Thailand

South Korea's Top Remittance Payment Company Global Money Express Joins RippleNet to Expand Payments into Thailand

Ripple has established a connection with Global Money Express, Korea’s top non-bank remittance payment company to link with Thailand’s Siam Business Bank.

Crypto Adoption in Latin America: A Tool Against Economic Woes and Authoritarianism

Crypto Adoption in Latin America: A Tool Against Economic Woes and Authoritarianism

The cryptocurrency landscape in Latin America, particularly in Argentina and Venezuela, is evolving as a mechanism to counter economic and political adversities. While Argentina sees crypto as a bulwark against economic instability, Venezuela is utilizing it as a tool for humanitarian aid and resistance against authoritarianism. The divergent crypto adoption narratives in these nations underscore the asset class's potential to address complex societal challenges.

MoneyTap Expands in Japan with Three New Bank Integrations

MoneyTap Expands in Japan with Three New Bank Integrations

MoneyTap, the Ripple-based payment system, has expanded in Japan with three new local bank integrations through SBI Remit. This enables the banks to offer peer-to-peer remittance services to their customers via the MoneyTap mobile application, which features high-security measures.

Shinhan Bank and SCB TechX Achieve Milestone with Successful Stablecoin Remittance Pilot on Hedera Network

Shinhan Bank and SCB TechX Achieve Milestone with Successful Stablecoin Remittance Pilot on Hedera Network

Shinhan Bank, SCB TechX, and Taiwan's largest financial institution have successfully completed a stablecoin remittance proof-of-concept (PoC) pilot on the Hedera network, as announced on July 18th, 2023.

QNB Extends RippleNet Remittance Transfer to the Phillippines

QNB Extends RippleNet Remittance Transfer to the Phillippines

The duo of the Qatari National Bank (QNB) and China Banking Corporation (China Bank), are expanding the remittance capabilities of the RippleNet protocol for the benefit of Filipinos living in Qatar.

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.

Alchemy Pay Scores License to Expand in Indonesia

Alchemy Pay Scores License to Expand in Indonesia

Alchemy Pay has obtained a license from the central bank of Indonesia to operate remittance and fund transfers in cooperation with local fintech firm Berkah Digital Pembayaran. The license allows the firms to offer better payout methods and reduce associated operating costs.

RBI and Central Bank of UAE sign MOU on CBDC bridge

RBI and Central Bank of UAE sign MOU on CBDC bridge

The Reserve Bank of India and the Central Bank of UAE have signed an MOU to collaborate on CBDC interoperability, specifically for the development of a CBDC bridge to facilitate remittances and trade.

SBI Remit Expands Ripple XRP Based Remittance Services

SBI Remit Expands Ripple XRP Based Remittance Services

SBI Remit expands XRP-based remittance services to Philippines, Vietnam, and Indonesia, integrating Ripple Payments and TRANGLO for real-time, low-cost international payments, accelerating adoption in Southeast Asian markets.

Multicoin Capital's Vision for 2024: Embracing AI, Crypto, and Web3 Innovations

Multicoin Capital's Vision for 2024: Embracing AI, Crypto, and Web3 Innovations

Multicoin Capital's 2024 outlook highlights the transformative role of AI, stablecoins, and innovative token distribution in the crypto and blockchain landscape. The firm foresees significant advancements in remittances, social applications, and various sectors integrating crypto as a foundational element.

Twitter CEO Endorses Bitcoin For Black America

Twitter CEO Endorses Bitcoin For Black America

According to his tweet on February 23rd, while promoting the book discussing Bitcoin’s huge potential benefits to the African-American community, Jack Dorsey, CEO of Twitter who is no stranger to controversies in the media, used the fanbase of his Twitter platform for this cause.

Ripple (XRP) Check Feature May Soon See the Light of Day

Ripple (XRP) Check Feature May Soon See the Light of Day

The long-awaited Ripple Check may soon be launched as the margin for the needed votes by the network's validators narrows. With the Check feature, institutions and users will find flexibility in money exchange and adherence to compliance.

Maiar Wallet Makes Sending Money as Easy as Sending a Text

Maiar Wallet Makes Sending Money as Easy as Sending a Text

Maiar Wallet, a decentralized, non-custodial, low fee, multi-currency digital wallet built on the Elrond blockchain to empower everyday users.

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.

Crypto ATM Market Expected to Hit $1.18B by 2028, Driven by Increasing Fund Transfers

Crypto ATM Market Expected to Hit $1.18B by 2028, Driven by Increasing Fund Transfers

A surge in fund transfers is expected to expedite the global crypto ATM market to hit $1.185 billion by 2028, according to Vantage Market Research.

Western Union Counts its Losses in Advance as El Salvador Bitcoin Era Begins

Western Union Counts its Losses in Advance as El Salvador Bitcoin Era Begins

Western Union may lose business because of the rise of Bitcoin, as remittance costs are bound to be significantly lower through Bitcoin henceforth.

Central American Countries Eager to See if El Salvador’s Bitcoin Cut Remittance Costs

Central American Countries Eager to See if El Salvador’s Bitcoin Cut Remittance Costs

Central American countries closely pay attention to see if El Salvador’s Bitcoin adoption could reduce the cost of remittances.

Ripple Powers Remittance Corridor between Malaysia and Bangladesh with RippleNet

Ripple Powers Remittance Corridor between Malaysia and Bangladesh with RippleNet

Ripple has signed a deal with Malaysia and Bangladesh's financial services to provide a seamless remittance corridor between the two countries.

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 Continues to Receive Millions in Development Fees From Ripple

MoneyGram Continues to Receive Millions in Development Fees From Ripple

Ripple continues to pump money into MoneyGram remittance services in market development fees as compensation for providing liquidity to its ODL XRP network.

SBI Group Introduces Blockchain-Based Money Transfer Service Between Japan And Vietnam

SBI Group Introduces Blockchain-Based Money Transfer Service Between Japan And Vietnam

SBI Ripple Asia recently announced that it has joined hands with SBI Remit to provide money transfer services between Japan and Vietnam using blockchain technology. Of course, the two Japanese companies are working with a local Vietnamese bank – Tien Phong commercial joint stock bank – for making the transfer in fiat currency.

Bruno Le Maire Insists He Cannot Support Facebook’s Libra

Bruno Le Maire Insists He Cannot Support Facebook’s Libra

Since the social media giant, Facebook announced its plan to launch its digital currency known Libra, one critic has repeatedly made his opinion known. Bruno Le Maire cannot and will not support the stablecoin project.

World Economic Forum Views Cryptocurrency as Pivotal Tool for Financial Inclusion

World Economic Forum Views Cryptocurrency as Pivotal Tool for Financial Inclusion

The WEF thinks cryptocurrencies can be pivotal in offering financial services to one-third of the world’s adults, approximately 2 billion people, who are unbanked.

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