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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.

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Ant International Deepens Payment and Digitalisation Ecosystem with AI-Driven Embedded Finance Solutions in Year of Transformation

Fintech Finance

The new Embedded Finance segment deepens Ant International’s ecosystem by offering a rich array of FX, treasury management, inclusive lending and other AI-powered fintech solutions to clients and partners across the other three main businesses.

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XWeave Secures US$3 Million Funding for Stablecoin Cross-Border Payments

Fintech News

The company is also in talks with regional fintechs and global merchant platforms to integrate real-time cross-border settlement into their products. Designed for interoperability, the platform supports a range of use casesfrom remittances and merchant payouts to treasury and wallet operations.

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Ondo Finance Joins the Mastercard Multi-Token Network (MTN) as the First Real-World Asset (RWA) Provider

Fintech Finance

Ondo Finance announced today that it will be the first provider to bring real-world assets (RWA) to the Mastercard Multi-Token Network (MTN), a digital network connecting financial institutions with businesses to improve cross-border payment experiences.

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Standard Chartered Utilises Blockchain for Cross-Border Transactions Between Hong Kong and Singapore

The Fintech Times

. “The bank’s integration of Euro-denominated settlements between Hong Kong and Singapore, via Partior, is not just a testament to its technological advancement but a beacon for the future of seamless, secure, and efficient global payment systems.”

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Will Central Bank Digital Currencies (CBDCs) Impact Cross-Border Payments in 2024?

The Fintech Times

The digital currencies are influencing the technical aspects of cross-border transactions rather than altering user experiences. “CBDCs can contribute to quicker and more secure cross-border settlements, reducing the time traditionally associated with international fund transfers.

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A Closer Look At Ripple’s Money-Saving Claims

PYMNTS

The company also pointed to the recent rise of the nostro account, an account owned by a financial institution in another country with funds held in local currency, used to facilitate cross-border settlement. For Ripple, XRP is the digital asset that operates on its infrastructure.