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The Bank for International Settlements (BIS) and a group of central banks have successfully completed Project Mandala demonstrating automated compliance for cross-bordertransactions. These examples highlight Mandala’s ability to support transparency and regulatory oversight without compromising transaction speed.
The current cross-border payment system imposes high costs on businesses and economies worldwide, stifling economic potential and limiting financial inclusivity. trillion across countries annually—around a quarter of global GDP—at an estimated cost of $120 billion in transaction fees annually. Global corporations move $23.5
Vietnam and Laos have officially launched a new framework for settling payments in their local currencies and a cross-border QR code payment system. allows businesses and individuals to conduct transactions in Vietnamese Dong or Lao Kip, reducing reliance on foreign currencies and lowering transaction costs.
India is advancing efforts to establish cross-border payment linkages with multiple countries, as reported by Bloomberg, citing an official from the Reserve Bank of India (RBI). Featured image credit: Edited from Freepik The post India in Talks to Forge New Cross-Border Payment Linkages, Says RBI appeared first on Fintech Singapore.
UOB and its wholly owned subsidiary UOB China have signed agreements to become direct participants of China’s Cross-border Interbank Payment System (CIPS). This strengthens their ability to support cross-border renminbi (RMB) transactions.
PayPal has announced that its disbursement partners can now use PayPal USD (PYUSD) to settle cross-border money transfers via Xoom, its digital remittance platform. Yellow Card, Africa’s largest licensed stablecoin on/off-ramp fintech, will also leverage PYUSD to facilitate transactions.
FXC Intelligence, a data platform specializing in the cross-border payment and e-commerce sectors, has released its annual selection of the world’s most promising cross-border payments companies in 2024. million Series A funding round led by Sequoia Capital Southeast Asia.
The State Bank of Vietnam (SBV) and the National Bank of Cambodia (NBC) announced the successful implementation of a cross-border QR payment system between the two countries. The pilot project, which began in mid-2022, has been completed as scheduled.
Onafriq , in collaboration with the Pan-African Payment and Settlement System (PAPSS), announced the launch of a new cross-border payment service that will initially pilot outbound transactions in Ghana. The primary emphasis of this new service will be on SME and retail transactions.
FXC Intelligence, a data platform specializing in the cross-border payment and e-commerce sectors, has released its annual Cross-Border Payments 100 list, highlighting the 100 most influential players in global payments. Released on May 08, the 2025 Cross-Border Payments 100 recognizes industry leaders across the sector.
The partnership brings Airwallex’s global payments and financial operating capabilities into the Viably ecommerce financial platform, allowing businesses to simplify cross-bordertransactions and management of multiple currencies in a single account.
This partnership aims to enhance stablecoin liquidity management in cross-border payments. It enables members of Thunes’ global network to fund and settle international transactions using USDC, enabling faster transfers that can be processed within seconds, any day of the week. said Jeremy Allaire, Co-founder and CEO of Circle.
Ant International has joined Swift ‘s “Network Interoperability Reference Implementation” programme, a pre-pilot initiative designed to improve cross-border payment experiences.
Ant International, a leading global digital payment and financial technology provider headquartered in Singapore, has been intensifying its integration of Artificial Intelligence (AI) technologies to enhance and secure millions of daily cross-bordertransactions for merchants across over 200 global markets.
The introduction of VND accounts aims to support cross-bordertransactions involving Vietnam by potentially speeding up settlement, simplifying payment reconciliation, and improving cash flow management for businesses operating internationally.
Bitso Business the B2B arm of Bitso that provides the infrastructure for the future of cross-border payments releases its 2024 results. For these transactions, in 2024 3 Bitso Business registered a volume of more than $6.5 billion registered in 2022, consolidating an accelerated cross-border remittances growth.
Typical processing times range from under an hour for 60 percent of transactions to within 24 hours for 95 percent. Featured image: Edited by Fintech News Singapore, based on image by nitipong168 via Freepik The post dtcpay Taps Mastercard Move to Enhance Cross-Border Payment Access appeared first on Fintech Singapore.
Card Corporation, a leading privately-owned financial services technology company specializing in mobile banking and card payments, is pleased to announce a new collaboration with Visa to introduce Visa Direct Cross-Border payments. Visa Direct provides users with a simple and more efficient way to transfer money internationally.
Morgan Stanley has partnered with Wise Platform to enhance its cross-border payment capabilities for corporate and institutional clients. The integration allows the bank to reduce implementation timelines while expanding its suite of transactional foreign exchange services.
1 B2B cross-border trade payment platform, and BNP Paribas , the European Union’s leading bank, have signed a landmark Memorandum of Understanding (MOU) to roll out comprehensive cross-border financial services during Money20/20 Europe in Amsterdam. XTransfer , the world’s leading and China’s No.1
The platform supports fiat currencies like the Nigerian Naira (NGN), US Dollar (USD), and Canadian Dollar (CAD), as well as cryptocurrency transactions. billion across 25,000 transactions, and 4,000 customers, Juicyway has proven its value and efficiency. Licensed in Nigeria, Canada, the USA, and the UK, Juicyway has processed $1.3
In this exclusive Fintech Review interview, Adam Swartzbaugh, CEO of Almond FinTech , discusses transformative cross-border payment technology. Almond’s blockchain-driven Settlement Optimization Engine (SOE) addresses critical speed, transparency, and cost challenges in cross-border payments.
Ripple announced it has added its US dollar-backed stablecoin, RLUSD, to its Ripple Payments platform to support enterprise cross-bordertransactions using the digital asset. Were additionally excited to enable RLUSD in Ripple Payments, extending the breadth of stablecoins available in our cross-border payments solution.
Thunes , the Smart Superhighway to move money around the world, today welcomed Papara , Türkiye’s leading fintech company, as a new Member of its Direct Global Network, and allies to facilitate cross-border payments to and from Türkiye.
As the global demand for faster, more affordable, and increasingly transparent cross-border payments intensifies, Project Nexus is emerging as a foundational initiative to meet the G20’s ambitious roadmap. What is Project Nexus, and how does it address today’s cross-border payment challenges?
XWeave , a startup developing infrastructure for stablecoin-based cross-border payments, has raised US$3 million in seed funding. The company is also in talks with regional fintechs and global merchant platforms to integrate real-time cross-border settlement into their products.
The Challenge Cross-border payments are critical yet often costly and complex, especially for growing businesses expanding into Southeast Asia and South Asia. Geopolitical shifts have diversified supply chains, and real-time payments have become the preferred method for digital transactions in these regions.
Payall Payment Systems, the world’s first provider of end-to-end infrastructure that enables financial institutions to offer institutional-grade, safe, fast, low-cost, transparent and inclusive cross-border payments for B2X, P2X and G2X use-cases, has selected Ventura Capital to lead their Growth Round raise. About Payall.
We aim to address existing challenges in cross-border payments and seize opportunities through innovative solutions. The post Mastercard Move and Cairo Amman Bank Join Forces to Enable Convenient and Secure Cross-Border Payments in Jordan appeared first on FF News | Fintech Finance. billion in 2022.
AstroPay , a global fintech leader redefining cross-border finance, has announced the launch of its multicurrency wallet, a financial tool designed to simplify how users manage money across borders. The wallet enables individuals to hold, exchange, and transact in multiple currencies through a single secure app.
Cross-border payment firm XTransfer has received the Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). The company, founded in 2017, specialises in cross-border payment solutions tailored to small and medium-sized enterprises (SMEs). said Bill Deng, Founder and CEO of XTransfer.
equity stake in Jingle Pay , one of the fastest growing fintechs in the MENAP region. The Bank’s fintech investment underscores its commitment to driving digital transformation and fostering financial inclusion across key markets. Jingle Pay was recently awarded the top global fintech for remittances into Pakistan.
Boost Payment Solutions , a global leader in B2B payments, today announced a partnership with international payment pioneer TransferMate that is designed to address the growing demand for cross-border payments. based BINs to expand the reach of those programs into cross-border payments.
Southeast Asias fintech industry is flourishing, driven by soaring adoption of digital payments, alternative lending, and wealthtech. Moreover, ongoing ASEAN integration initiatives to connect real-time payment systems are boosting cross-border digital payments and fueling regional commerce.
With APIs, ISO 20022 messaging, and global collaborations, real-time payments are transforming the way companies operate across borders. Cross-bordertransactions were traditionally slow, costly, and opaque. Faster settlements : Transactions that used to take 2–5 days now clear in seconds or minutes.
Fintech solutions are changing this landscape, offering SMEs tailored tools to overcome these barriers. From innovative lending platforms to advanced payment processing, fintech is enabling them to access growth opportunities and thrive in today’s competitive markets. Fintech companies see this gap as an opportunity to innovate.
A Tracxn Technologies report highlights that the Southeast Asia fintech ecosystem experienced its zenith in 2021, marking the highest annual equity funding in the last decade. A visual overview of the SEA fintech sector’s funding trajectory from 2017 to 2024, showcasing the sharp decline after a record-breaking 2021.
Merge , a London-based fintech company that provides payments and banking infrastructure for digital businesses, has announced a new strategic partnership with DHgate , a leading global B2B e-commerce marketplace.
Thunes, a global payments company specialising in cross-bordertransactions, has expanded its Direct Global Network to Taiwan. This expansion offers a real-time alternative to traditional cross-border payment systems for transfers to bank accounts in Taiwan. billion, a 4.4% increase from January 2024.
By integrating with RTGS.global’s instant settlement infrastructure, TransferMate will deliver seamless, real-time international payments for RTGS.global’s business customers, reducing reliance on traditional banking intermediaries and eliminating the risk associated with moving money cross-border.
The fintech unicorns in Asia are moving to reshape the very fabric of how people and businesses interact with money. From digital payments to decentralised finance (DeFi), these companies are solving real-world challenges like financial inclusion and cross-bordertransactions, while setting new global standards for innovation.
PayGlocal, which holds regulatory approval from the Reserve Bank of India, offers enterprise-level payment capabilities designed to support global transactions securely and at scale. Its multi-currency account offering will expand to support Australian Dollars, in addition to US Dollars, Euros, and British Pounds.
Cross-border payment firm XTransfer and OCBC Bank have announced a partnership to provide small and medium-sized enterprises (SMEs) with enhanced financial services for international trade. This initiative is expected to improve cross-border trade efficiency and expand financial services for XTransfers customer base.
Fintech is powering global commerce - from cross-border payments to trade finance. But with that power comes a pressing challenge - how do you know who you are doing business with?
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