Fintech News

JUNE 4, 2024

The Bank for International Settlements (BIS) has launched Project Rialto to test the potential for improving instant cross-border payments through a combination of a modular foreign exchange (FX) component and wholesale central bank digital currencies (wCBDC).

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CB Insights

JANUARY 22, 2020

Blockchain companies have lost a step in the private markets. GET the 47-page blockchain TRENDS report. Download the free report to learn about the biggest emerging trends in blockchain and strategies to watch for 2019. Still, investor activity shows there are pockets of potential in the blockchain sector worth tracking.

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PYMNTS

NOVEMBER 27, 2019

The First Deputy Governor of the central bank of France, Denis Beau, spoke in support of a blockchain-based settlement system that would allow for faster transfers of euros, as well as be more cost-efficient, according to a report by Yahoo!

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PYMNTS

JUNE 30, 2017

The blockchain has a bit of an identity crisis. And while it might be tempting to poke fun at those confident, if somewhat confused, CFOs, Adam Ludwin, co-founder & CEO at Chain , told Karen Webster that, actually, they are pretty much in the same boat as everyone else when it comes to the blockchain. “No Here’s a little proof.

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PYMNTS

SEPTEMBER 11, 2019

Enterprise software provider R3 is teaming up with Mastercard to establish a blockchain solution for cross-border payments, the companies said in a press release on Wednesday (Sept. The new blockchain-enabled solution aims to bridge international payments infrastructures, schemes and banks via a Mastercard clearing and settlement network.

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PYMNTS

JUNE 30, 2019

Visa, of course, announced its B2B Connect network, which will streamline 30 global trade corridors (to start) via fiat-based transactions settled over blockchain. The strategic move also has a financial component, as Ripple took a $50 million stake in the money transfer company. The Roadmap. “I

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PYMNTS

JULY 31, 2019

Blockchain and AI to the Rescue. Some payments providers are also leveraging blockchain and distributed ledger technology (DLT) to meet these needs, expediting the cross-border payment process. Canadian payments network Interac is also investing in blockchain and DLT solutions.

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Cross-Border Payments Cross-Border Distributed Ledger Technology (DLT) Payments 72

PYMNTS

JULY 26, 2019

Increasingly, the financial services industry is targeting sluggishness in corporates’ cross-border payments, too, through technologies like blockchain and the development of faster payment rails around the globe. Some solution providers like Ripple are introducing new ways to bypass the correspondent banking system entirely.

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PYMNTS

SEPTEMBER 6, 2018

Beyond cryptocurrencies, blockchain is making wakes as a conduit for transactions. And there are a number of initiatives from banks in that country to use blockchain to exchange assets. The digital asset facilitates the trade and supplies important settlement instructions.”

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The Fintech Times

FEBRUARY 21, 2024

. “Swift’s own strategy for instant and frictionless transactions is closely aligned with the G20 targets, and 89 per cent of transactions on our network now reach the recipient bank within an hour – ahead of the G20’s 2027 goal of settlement within an hour for 75 per cent of international payments.

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PYMNTS

DECEMBER 18, 2019

Accenture Backs Blockchain. Professional services firm Accenture is backing blockchain in a big way, announcing this week that it will collaborate with TradeIX to support corporate onboarding to the blockchain-powered trade finance platform of the Marco Polo Network. Credit Unions Mix Blockchain With Existing Rails.

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The Fintech Times

FEBRUARY 28, 2024

Aleks Stefanovski, VP for strategy and business operations at Visa “Another barrier is de-risking by correspondent banks. Most cross-border payments are processed on infrastructure provided by correspondent banks. “Over the past decade, the risk appetite at correspondent banks has declined.

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PYMNTS

FEBRUARY 20, 2018

In addition, innovators the world over are exploring how technologies like blockchain could address payments speeds and efficiency on an international level. Payments experiences are far from ubiquitous from market to market, however, and a global payments settlement agency is now pressing for faster cross-border payments at a global scale.

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PYMNTS

SEPTEMBER 6, 2018

Blockchain — or rather, blockchain-focused projects — has been in the spotlight as China has been trialing financial services (FinServ) and security measures across those rails. However, blockchain is also gaining ground, and currency is offering a boost to the payments infrastructure. Africa As Greenfield Payments Opportunity.

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PYMNTS

FEBRUARY 8, 2018

This is particularly true as improving the payment experience, in terms of velocity of settlement, transparency and traceability, is a positive impact on commerce by [making it easier to do] business in places like China.”. It could be key to the broader Chinese economy too.

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Fintech Labs Insights

OCTOBER 9, 2015

The company also announced this week that it was shortening its name to “Ripple,” representing the technology’s emergence as an enterprise-grade solution and the debut of two new products for banks: Cross-Currency Settlement and FX Market Making. International transaction banking service.

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CB Insights

FEBRUARY 8, 2018

Yet at the same time, according to a survey by The International Securities Association, 55% of companies polled are monitoring, researching, or developing solutions on top of blockchain. But this very loud and public backlash against cryptocurrencies from banks begs the question: What do banks have to be afraid of?

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PYMNTS

SEPTEMBER 24, 2019

This week, SWIFT picks the latter, while JPMorgan Chase grows its initiative using blockchain to make cross-border transactions, and Form3 announces a new international payment services that connects banks with global small business payments capabilities via application programming interface (API).

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Fintech Review

MARCH 5, 2025

With growing demand for faster, cheaper alternatives, fintech firms and blockchain solutions are emerging as real challengers. How Cross-Border Payments Work International payments rely on a network of correspondent banks. When sending money abroad, banks often do not have direct relationships with every foreign institution.

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Fintech Finance

DECEMBER 17, 2024

Despite this immense potential, cross-border payments in LAC remain hampered by inefficiencies in the traditional SWIFT-based correspondent banking system, marked by multiple intermediaries, settlement delays, and fees exceeding 6% for remittances for some corridors. billion, exceeding the $4.3 trillion by 2030.

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The Fintech Times

MAY 7, 2025

The correspondent banking model together with SWIFT was built 50 or 60 years ago to facilitate a small number of large payments. He believes this kind of hybrid model is essential to meet institutional needs, particularly as blockchain-based infrastructure becomes more viable for regulated financial services.

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PYMNTS

JANUARY 9, 2019

News came this week from Ripple, which has a presence in both the cryptocurrency and blockchain realms, that 13 more financial institutions have signed on RippleNet. Among the new additions to the roster: Euro Exim Bank, Ahli Bank of Kuwait, Pontual/USEND and others. Of Cryptos And Blockchain.

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