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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! DLT would also help in terms of cross-border payments, he said.
At heart of the matter, of course, is the place (or choice) of using distributedledgertechnology (DLT) to underpin the transactions — especially B2B transactions. Some see distributedledgertechnologies (DLT) as having the potential to drive industry-wide change.
The transactions between businesses are done on an account-to-account basis, as opposed to using the existing correspondentbanking network — which, of course, relies on intermediaries.
Some see distributedledgertechnologies (DLT) as having the potential to drive industry-wide change. Indeed, B2B cross-border payments , traditionally characterized by fragmentation and opacity, are a potential use case for the successful implementation of DLT,” said the authors in their post.
Some payments providers are also leveraging blockchain and distributedledgertechnology (DLT) to meet these needs, expediting the cross-border payment process. This has a direct cost benefit as computing power is used only on the basis of need,” said Nilesh Pathak, chief technical officer at InstaReM.
Cross-border payments can be streamlined and sped up by leveraging modern tools like distributedledgertechnology (DLT), which can complete transactions within minutes. SWIFT’s gpi , Mastercard’s B2B Hub, Visa B2B Connect and RippleNet are some of the examples of newer cross-border financial infrastructures.
The payments often have to travel between MTOs or between one MTO’s different offices through correspondingbanks, and the different operating hours and time zones under which domestic systems operate can delay MTOs from getting their money. Consumers are not spared from the space’s frictions, either.
Rewiring the cross-border payments paradigm: Risk and security in correspondentbanking confirmation May 12 2025 by Payments Intelligence LinkedIn Email X WhatsApp Whats the article about? Yet much of the system still hinges on a half-century-old correspondentbanking model and a fragmented regulatory landscape.
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