US Treasury strategy would tighten virtual asset regulations, increase AI use
[May 17 12:26 PM] The Treasury’s fight against illicit finance will focus on better regulations, greater enforcement and AI.
2 / 2 Relevant items tagged with #CrossBorderPayments
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Mastercard joins forces with US banking titans for tokenized settlement trials
[May 8 6:37 AM] The partnership between significant banking giants in the U.S. and Mastercard aims to streamline multiple asset-class settlements on a shared ledger platform.
The Bitcoin Company Launches Instant Cross-Border Payment API For Mexico and Brazil
[Mar 22 9:17 AM] The Bitcoin Company has unveiled its new Remittances API, allowing individuals and financial institutions to send instant payments to any bank account in Mexico and Brazil in under 1 second, according to a press release sent to Bitcoin Magazine…
Fireblocks, Zodia Markets Partner to Improve Cross-Border Payments
[Mar 14 3:00 AM] The two crypto firms are attempting to improve cross-border payments via stablecoins for large corporations and institutions.
Global BTC Trading App Strike Launches ‘First Fully-Featured Region Outside the US’
Nigerian Payments Fintech Startup Cleva Secures $1.5 Million in Pre-Seed Funding
[Jan 10 3:30 AM] The Y Combinator-backed Nigerian fintech startup has reportedly raised $1.5 million in pre-seed funding. Tolu Alabi, the CEO of Cleva, expressed confidence in her and fellow co-founder Philip Abel’s ability to navigate the competitive fintech…
Ripple Expands Payments Network to 70+ Crypto and Traditional Payout Markets
Ripple Acquires Crypto Financial Services Company Fortress Trust
[Sep 8, 2023 11:30 AM] 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…
Gold-backed BRICS currency will be 'very hard' to deliver: Lyn Alden
[Aug 21, 2023 11:45 PM] 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.
Blockchain could save financial institutions $10B by 2030: Ripple
[Jul 29, 2023 8:36 PM] 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.
China’s digital yuan nears $250B transaction volume: Central bank governor
[Jul 19, 2023 11:29 PM] While the adoption and use cases of China’s e-CNY are expanding, the digital yuan still only represents 0.16% of China’s monetary supply.
IMF Official Presents Blueprint for Cross-Border CBDCs
[Jun 19, 2023 7:00 AM] The international organization wants to help cut the cost of cross-border transactions, without abandoning compliance checks or capital controls.
Russia to Trial Digital Asset Settlements in Foreign Trade
[Jun 16, 2023 11:30 PM] Bank of Russia plans to pilot cross-border payments using digital assets and central bank digital currencies, according to a deputy governor. The top executive believes these alternative instruments could increase efficiency in foreign trade while…
Iran and Russia Talk Crypto Cooperation, Unveil Tool Streamlining Trade in National Currencies
[Jun 12, 2023 2:30 AM] Experts and business representatives from Iran and Russia have discussed the potential uses of cryptocurrencies and blockchain. The two countries are also collaborating on implementing new financial instruments facilitating bilateral trade in their…
Russia and China Carry Out Most Settlements in Yuan and Ruble, Russian PM Mikhail Mishustin Says
[May 24, 2023 2:00 PM] The larger portion of payments between Russia and China are now processed using the currencies of the two countries, Prime Minister Mikhail Mishustin revealed. Moscow and Beijing intend to increase mutual trade beyond the $200-billion target this…
‘Evil Crypto’ Can Be Used in Foreign Trade, Russia’s Deputy Finance Minister Says
[Apr 30, 2023 10:00 PM] Cryptocurrency may be bad for investors but it can be useful in international settlements, according to a top government official in Moscow. Russian authorities intend to set up a special committee that would issue permits to operators employing…
World’s Largest Regional Organization to Switch to Settlements in National Currencies
[Apr 28, 2023 4:00 PM] A China-led regional organization that covers more than half of Eurasia intends to transition to settlements in the currencies of its members. While the plan is to abandon the U.S. dollar in mutual payments, participating nations are yet to…
Chinese Yuan Overtakes US Dollar as Most Used Currency to Settle Cross-Border Payments in China
[Apr 27, 2023 2:00 PM] The Chinese yuan is now China’s most used currency for cross-border settlements. According to official data from the State Administration of Foreign Exchange, the Chinese yuan rose to be the most-used currency in March over the U.S. dollar…
BIS Releases Report On ‘Project Icebreaker’ — Develops Cross-Border Retail CBDC Payment Model
UAE Launches ‘Financial Infrastructure Transformation’ Program; CBDC Among 9 Key Objectives
Russia Mulls Gold-backed Stablecoin, Lawmaker Confirms After Iran Visit
[Jan 26, 2023 5:30 PM] Russia may issue a stablecoin backed by gold to use in international settlements, a high-ranking member of the Russian parliament has admitted. The matter has been discussed during a recent visit to Iran where officials have also signaled interest…
Aussie 'Big 4' bank mints stablecoin for carbon trading and remittances
[Jan 18, 2023 11:04 PM] This marks the second "Big 4" bank in Australia to launch an Australian-dollar pegged stablecoin in a bid to boost the digital economy.
Bank of Russia to Test International Crypto Payments With Companies
[Dec 20, 2022 5:30 PM] The Central Bank of Russia plans to use cryptocurrency for cross-border payments in trials with private companies, a member of its top management has revealed. The testing will be conducted under a special legal regime that’s currently under…
Putin Calls for International Settlements Based on Blockchain and Digital Currencies
[Nov 27, 2022 5:00 AM] Russian President Vladimir Putin believes a new system for international money transfers is needed to reduce dependence on big banks and third parties. He is convinced that cross-border payments relying on digital currency and distributed ledger…
Russian IT Firms Lobby for Crypto Payments in Software Exports
[Nov 11, 2022 3:30 PM] Companies developing software solutions for foreign customers are urging Russian authorities to allow them to accept crypto payments. The proposal is part of a package of measures aimed at supporting IT exports suggested by an industry organization…