PYMNTS

APRIL 29, 2020

With regulations surrounding digital currencies still in flux from one market to the next, compliance remains one of the most challenging obstacles for both crypto firms and banking providers to overcome. As Karalevi? .” ” Contributing To The Payments Ecosystem.

Cryptocurrency 113

Cryptocurrency Cross-Border AML Compliance 113

Fintech News

DECEMBER 10, 2023

Whether you’re a small company or a large bank, the challenge remains: ensuring that every payment instruction contains the correct data in the right format.” ” For FIs, the consequences are equally daunting, as they face expenses associated with the correspondent banking network.

Addressing 120

Addressing Fraud Prevention Financial Inclusion Payments 120

Fintech Finance

MAY 29, 2025

Already connected into multiple local banks across North America, Latin America, Europe, Africa, and Asia, Conduit will use the capital to fuel expansion into additional markets and support an even broader range of traditional and digital currencies through its real-time payment rails.

Cross-Border Payments 81

Cross-Border Payments Cross-Border Stablecoins SWIFT 81

PYMNTS

MARCH 7, 2019

The challenges of global payments are well known, particularly as analysts warn of the impact of a decline in correspondent banking relationships around the world. Analysts pointed to a rise in regulatory pressure as one of the factors pushing banks to reduce exposure to and participation in the correspondent banking space.

B2B 67

B2B Cross-Border Cross-Border Payments Correspondent Bank 67

Payments Source

MAY 11, 2016

Blockchain, the distributed ledger technology commonly associated with bitcoin, is getting a lot of attention as a way to jettison fee-snagging correspondent banks from remittances, but Align Commerce insists blockchain has even more uses.

Blockchain 63

Blockchain Correspondent Bank Correspondent Bitcoin 63

The Paypers

JANUARY 15, 2019

(The Paypers) Euro Exim Bank has signed up for payment network RippleNet, putting Ripple ’s digital currency XRP on a potential path to replace correspondent banking.

Correspondent 40

Correspondent Correspondent Bank Digital Currency Payment Networks 40

PYMNTS

NOVEMBER 10, 2020

Against that backdrop, he said, using Visa and Mastercard as access points and leveraging the range of wallets on offer to store the digital currencies can be a powerful agent of payments change. Back in May, i2c Inc. It’s a space, he said, that’s ripe for disruption.

Cryptocurrency 129

Cryptocurrency Blockchain Bitcoin Online and Mobile Banking 129

PYMNTS

APRIL 21, 2017

Earlier this week, wire transfer issues with correspondent banks spread to a full-on moratorium on incoming wire transfers across fiat currencies, as well as a hold on outgoing transfers on Swiss francs and the Hong Kong dollar. on digital currency exchange GDAX and $1,230.63 On Thursday at 2:20 p.m.

Wire Transfer 51

Wire Transfer Wires Wire Bitcoin 51

PYMNTS

NOVEMBER 26, 2018

Deputy Attorney General Rod Rosenstein, is seeking to gain international support in dealing with crimes tied to digital currencies. “We In addition, fraudsters use the lure of coin offerings and the promise of new currencies to bilk unsuspecting investors, promote scams and engage in market manipulation.”.

Crime 58

Crime Money Laundering Law Enforcement Correspondent Bank 58

PYMNTS

DECEMBER 18, 2019

MUFG’s Unconfirmed Digital Currency. Another show of support for blockchain-powered payments comes from Japan’s MUFG, though the bank declined to confirm the exact nature of its joint venture with human resources company Recruit Holdings. It’s moving slowly.”.

B2B 52

B2B Credit Union Electronic Funds Transfer (EFT) RTP 52

Faster Payments Council

MARCH 15, 2023

Panelists will provider perspectives on correspondent banking strategies. These projects are taking different implementation approaches. Some are retail, some are wholesale, some are domestic, some are regional, and some are cross border.

FPC 88

FPC ISO 20022 Cross-Border Payments Federal Reserve 88

PYMNTS

SEPTEMBER 6, 2018

According to a statement on the launch: “Two financial institutions transacting together agree to use a stable coin, central bank digital currency or other digital assets as the bridge asset between any two fiat currencies. The digital asset facilitates the trade and supplies important settlement instructions.”

Cross-Border 40

Cross-Border SWIFT Cross-Border Payments Payment APIs and Integration 40

PYMNTS

APRIL 3, 2019

Pakistan’s central bank is aiming to launch a digital currency by 2025. The bank will offer custody and settlement services for both fiat and crypto traded on the exchange. While SJMBT is not insured by the U.S.

Bitcoin 43

Bitcoin FDIC Correspondent Bank Digital Currency 43

PYMNTS

DECEMBER 17, 2019

that develops solutions for digital currency. M10 focuses on creating a digital money solution to help global banks quickly and affordably handle international transfers, settlements and remittances. We offer a single API across all banks,” Kirsch told Webster. It’s moving slowly.”.

Central Bank 52

Central Bank Global Payments Cross-Border Payment APIs and Integration 52

PYMNTS

MARCH 12, 2018

But might there be digital offerings in the wings that will supplant the promise (and peril) of bitcoin and its digital currency brethren? The digital cryptocurrencies can’t function with the same flexibility and economic impact as fiat , then, and blockchain doesn’t scale. Digitize our fiat currencies,” said Cooke.

Faster Payments 44

Faster Payments Central Bank Cross-Border Payments 44

PYMNTS

SEPTEMBER 6, 2018

By way of illustration, the company gave a scenario: “Two financial institutions transacting together agree to use a stable coin, central bank digital currency or other digital assets as the bridge asset between any two fiat currencies. IBM will be demoing the new project this October.

SWIFT 40

SWIFT Payment Initiation Caps Cross-Border Payments 40

PYMNTS

MAY 1, 2017

The issue comes when exchange users wish to change bitcoin into regular currency, at which point the exchanges leverage relationships with local banks that themselves rely on larger “correspondent banks” to facilitate wire transfers and process transactions that involve foreign currencies. Welcome to the future.

Bitcoin 46

Bitcoin Blockchain Wires Wire 46

Finextra

JUNE 30, 2025

MiCA does not cover central bank digital currencies (CBDCs), but it allows regulated financial institutions (e.g. banks) to issue or support stablecoins, including acting as custodians or liquidity providers. Banks in the EU now have a legal framework to engage with stablecoins in a compliant way.

Stablecoins 52

Stablecoins Finance Cross-Border Payment APIs and Integration 52

PYMNTS

JANUARY 9, 2019

That is geared toward eliminating pre-funding needs of banks to have foreign currencies on hand tied to destination currencies. Where capital is free to roam (in a way) beyond the confines of the traditional correspondent banking system, it can be deployed in other ways, making money cheaper to move, and speedier to move too.

Cross-Border 76

Cross-Border SWIFT Correspondent Bank Multi-Currency 76

Fintech Review

MARCH 5, 2025

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. It does not move money but provides messaging services between banks. Instead, they use intermediaries to transfer funds.

Cross-Border Payments 76

Cross-Border Payments Cross-Border Correspondent Bank Correspondent 76

The Payments Association

MAY 19, 2025

Read More Rewiring the cross-border payments paradigm: Risk and security in correspondent banking confirmation May 14, 2025 No Comments Cross-border payments are being reshaped by new tech, regulation, and partnershipsbut legacy risks still demand smarter compliance.

Compliance 88

Compliance Stablecoins Regulations Payments 88