Remove Correspondent Bank Remove Cross-Border Payments Remove Payment Networks
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Nexus Empowers APAC Financial Institutions to Achieve G20 Cross-Border Payment Targets

Fintech News

As the global demand for faster, more affordable, and increasingly transparent cross-border payments intensifies, Project Nexus is emerging as a foundational initiative to meet the G20’s ambitious roadmap. What is Project Nexus, and how does it address today’s cross-border payment challenges?

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Stablecoins to streamline Cross Border Payments

Finextra

UK’s regulator FCA working with the Bank of England has published proposals for issuing stablecoins, crypto custody and financial resilience of crypto-asset firms, to provide a safe, competitive sector. Market Size Value of cross-border payments is estimated to reach a minimum $ 250 trillion by 2027.

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Tietoevry Banking integrates Visa Direct to its Payment Hub

Fintech Finance

This move will enable Tietoevry Bankings client financial institutions to offer corporate customers Visa B2B Connect payments, delivering faster, more cost-effective and transparent payment options when transacting across borders.

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Wise Granted Direct Access to Philippines’ Instant Payments Infrastructure, Gets Settlement Account With BSP

Fintech Finance

Wise has spent the last 14 years building an alternative to traditional correspondent banking. With over 65 licenses globally and now six direct connections to domestic payment systems, this infrastructure enables over 63% of all Wise transactions to be completed instantly (under 20 seconds), with an average fee of 0.62%.

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How to build a B2B payments behemoth

Payments Dive

Bottomline says about one million companies use its platforms to make $16 trillion in annual payments, with customers including 90% of the Fortune 100 businesses. It also contends it’s the world’s third-largest Swift service bureau owing to a large cross-border payments business in Europe. and it’s inevitable.

B2B
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Onafriq Partners With Circle to Take a Step Towards More Inclusive Pan-African Financial System

The Fintech Times

Onafriq , the African payments gateway, is joining forces with Circle , a stablecoin-focused company and USDC issuer, to transform cross-border payments and digital financial services across Africa. This results in $5billion in transaction fees annually, undermining economic integration efforts.

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Deep Dive: Wise – Building a World of Money Without Borders

Finextra

Historically, this market was dominated by big banks and legacy remittance providers relying on an antiquated correspondent banking network. Banks and incumbents like Western Union layered on fees and hidden exchange rate markups – profiting from customers’ lack of transparency.