Remove Blocks Remove Interoperability Remove Message Standards
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Unpacking 3 Key Concepts From G20’s Enhanced Cross Border Payments Plan

Fintech News

Theme 1: Establishing Optimal Governance and Interoperability Frameworks Effective governance and interoperability frameworks will be crucial for managing the complexities of cross-border payments. One idea is to have a central system for checking payments against sanctions lists, which could make the process faster and simpler.

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Deep Dive: Why Cross-Border Payments Need Transparency Overhaul

PYMNTS

Although there are more efficient cross-border transactions being enabled, several roadblocks are still in the way, including payment tracking and issues with interoperability between market systems. Some FIs are also turning to blockchain-based solutions to improve transparency and interoperability.

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Blockchain Tracker: Edits, Approvals, Music & Bono

PYMNTS

Standards Australia will head the committee to guide implementation of blockchain technology and the messaging standards. Germany, Canada, Japan and others, reports said, and is looking to generate a streamlined and standard language for “interoperability among systems, privacy, security and terminology.”.

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XDC-to-Fiat Off-ramp Now Live on XDC.Cash, Powered by Encryptus

Fintech Review

the network now offers a 3-block finality, settling transactions in 3 to 4 seconds. XDC Network is ISO 20022 -compliant, aligning with the global messaging standard. ISO 20022 is an international standard for electronic data interchange between financial institutions. Powered by XDC2.0

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ERP Data On The Front Lines Of Blockchain Adoption

PYMNTS

Interoperability and integration of the buyer and sellers’ data is therefore essential. Further, blockchain, Finlync said, negates the need for participants to align with what the company described as “complex” payments messaging standards like ISO. Today, that data is stored in their ERP.”.