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With so many countries looking towards centralised digital assets, we set out to find out how these would impact the cross-border payments market. The digital currencies are influencing the technical aspects of cross-border transactions rather than altering user experiences.
But in markets such as Russia , complexity reigns, and merchants must grapple with data storage laws, unfamiliar payment rails and the payment preferences of their targeted end users. Against that backdrop, Ingenico said last year that it had launched domestic processing and cross-bordersettlement for international payments.
We can develop systems that settle instantly, but unless the law backs us, it’s just a ledger of promises. In his view, the promise of instant, cross-bordersettlement is fundamentally limited by inconsistent legal recognition of digital transactions across jurisdictions. Can real-time cross-border payments be safe?
Previously, such subjective assessments had prevented some lawful crypto businesses from securing essential banking services, limiting their ability to operate within the regulated financial system. How are banks likely to respond? Some of the largest U.S.
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