Remove Cross-Border Settlement Remove Real Time Payments Remove Use Case
article thumbnail

Circle Launches Stablecoin Payments Network for Cross-Border Settlements

Fintech News

Circle stated the initiative addresses inefficiencies in cross-border payments, which can often take more than a business day and incur significant costs, citing World Bank data highlighting average costs exceeding 6%. said Nikhil Chandhok, Chief Product and Technology Officer at Circle.

article thumbnail

A Closer Look At Ripple’s Money-Saving Claims

PYMNTS

Among one of the loudest of these blockchain champions is Ripple, a FinTech firm that has recently secured millions of dollars in investments and strategic partnerships aimed at promoting blockchain technology’s use for traditionally friction-rich areas, like cross-border payments and real-time payments.

article thumbnail

Rewiring the cross-border payments paradigm: Risk and security in correspondent banking confirmation

The Payments Association

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-border settlement is fundamentally limited by inconsistent legal recognition of digital transactions across jurisdictions. Can real-time cross-border payments be safe?