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Key considerations for the adoption of digital currencies

Finextra

A new way of settling transactions Firstly, when we talk about digital currency we are referring to the registration of a fiat currency (such as the pound) on a Distributed Ledger Technology (DLT)-based network with a 1:1 relationship to the fiat currency. Digital currencies can be issued by central banks (aka.

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Cross-Border Payment Efforts Look To The Blockchain And Beyond

PYMNTS

In Myanmar, Shwe Rural & Urban Development Bank has partnered with Krung Thai Bank, which is state-owned, to debut a cross-border transfer money offering that is in turn tied to the Ethereum blockchain. The company said it facilitates international payments, with funds reaching recipients in less than five minutes.

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 World Bank Sees DLT Potential For Cross-Border Transactions

PYMNTS

At heart of the matter, of course, is the place (or choice) of using distributed ledger technology (DLT) to underpin the transactions — especially B2B transactions. Some see distributed ledger technologies (DLT) as having the potential to drive industry-wide change.

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Deep Dive: Emerging Response To B2B, P2P Cross-Border Payments Pain

PYMNTS

The payments often have to travel between MTOs or between one MTO’s different offices through corresponding banks, 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.

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B2B Cross-Border Payments Are Speeding Up

PYMNTS

Swift recently announced that its gpi service can integrate with domestic real-time systems to facilitate rapid cross-border transactions. A trial of the service included one test in which it delivered a payment from Singapore’s FAST scheme through 17 banks and seven countries within 13 seconds.