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Bitso Business Surpasses $12 Billion in Transactions in 2024 and Unveils Study Revealing Stablecoins as the Leading Alternative for Cross-Border Payments

Fintech Finance

Bitso Business the B2B arm of Bitso that provides the infrastructure for the future of cross-border payments releases its 2024 results. The global cross-border payments market, currently valued at $44 trillion, is projected to reach $65 trillion by 2030. trillion by 2030.

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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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Re-Examining The Role Of Correspondent Banking

PYMNTS

More money crossing borders digitally. Fewer correspondent banks to move that money. What might replace a clunky system in a world where payments are becoming ever more global? And the hallmark of that money movement — a lack of transparency and speed. A Reduction In The Number Of Corridors .

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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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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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Bank of Kigali and KCB Group Join Pan-African Payment and Settlement System

The Fintech Times

Kenyan bank KCB Group and the Rwanda-based Bank of Kigali have joined the Pan-African Payment and Settlement System (PAPSS), which was launched by the African Export-Import Bank (Afreximbank) in collaboration with the African Union Commission (AUC) and the African Continental Free Trade Area (AfCFTA) Secretariat.

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KCB Group and Bank of Kigali Launch PAPSS, Enabling Seamless and Affordable Cross-border Payments Across Africa

Fintech Finance

KCB and Bank of Kigali customers will now be able to send and receive cross-border payments using PAPSS. The service is fully operational and accessible via the banks mobile applications and branch networks, enabling seamless transactions across African borders.