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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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Bitcoin Daily: Monerium Partners With Algorand To Enable Blockchain Transactions; Square To Build Lightning Development Kit To Enhance Bitcoin Wallets

PYMNTS

21), and the two companies are going to work together to develop “real-world use cases that are enabled by advanced blockchain technology” that will use Monerium’s “programmable” digital money, according to W. The deal was announced on Tuesday (Jan. Sean Ford, Algorand’s chief operating officer.

Bitcoin 52
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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.

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Can FinTech Walk The FinTalk?

PYMNTS

with supporting use cases mostly related to financial services and cross-border settlement, for a grand total of $242 million in 2018. They’re also using software and cryptographic techniques and permissioned-based networks to digitize and move assets around the world faster and in a secure, compliant manner.

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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?