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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. said Milind Sanghavi, Founder and CEO of XWeave.
StraitsX has launched its Singapore dollar-backed stablecoin, XSGD, on the XRP Ledger (XRPL), marking a new phase in its collaboration with Ripple to support real-time digital payments across Asia. XSGD is a stablecoin regulated by the Monetary Authority of Singapore (MAS) and backed 1:1 by reserves held with DBS Bank and Standard Chartered.
Rain , a global card issuing platform built for stablecoins, is helping usher in a new era of onchain finance through its work with Visa. Rain announced it has joined Visa’s pilot program for stablecoinsettlement. Rain is programmatically leveraging stablecoins enabling network settlement 7 days a week, 365 days a year.
The Bank for International Settlements (BIS) has released a report, “Stablecoins: Regulatory Responses to Their Promise of Stability,” analysing the regulatory environments for stablecoins across seven distinct jurisdictions.
This development follows the earlier announcement in November 2023, where StraitsX, along with Paxos, received In-Principle Approvals (IPA) from MAS to issue stablecoins. In addition to this, StraitsX has introduced XUSD, a fiat-pegged USD stablecoin, aimed at digitising currencies essential for global trade.
Initially, these will use fiat currencies, but Swift plans to eventually integrate tokenised forms of money such as central bank digital currencies (CBDCs) and stablecoins. This advancement could allow real-time exchanges of tokenised assets and payments on the Swift platform.
Stablecoins have been rising in conversation within the financial ecosystem of Singapore. As the name implies, stablecoins are digital assets designed to maintain a stable value relative to a reference asset, such as the US Dollar or gold.
Circle has launched the Circle Payments Network (CPN) to modernize the $190 trillion cross-border payments market with blockchain-based, near-instant settlement. Stablecoin issuer and infrastructure company Circle unveiled this week that the Circle Payments Network (CPN) mainnet is now live. “We are just getting started.
Conduit , a leading cross-border payments platform powered by stablecoins, announced today it closed a $36 million Series A funding round. To date, Conduit has saved clients over 60,000 hours in settlement times and generated fee savings worth over $55 million.
However, challenges remain, particularly regarding interoperability. To address this, stakeholders including NETS Group and Liquid Group are working on interoperable QR payment solutions that are designed to simplify processes for merchants, Chia said.
He outlined MAS’ long-term efforts to enhance capabilities, such as developing a national digital identity, fast payment rails, and achieving seamless interoperability between payment schemes to ensure low-cost, accessible, and efficient payments. Discussing generative AI, Chia described MAS’ cautious but collaborative approach.
While not a stablecoin in its current distributed ledger form, the Lewes Pound was, nevertheless, similar in many aspects including being pegged to a major currency. Stablecoins have not. Will the rug be pulled from under stablecoins by incumbent instant payment schemes? At least, not yet. And why wouldnt they?
Will Marwick CEO, IFX Payments The Payments Report 2024 highlights the growing impact of digital currencies, particularly stablecoins, as transformative payment solutions. The report notes how stablecoins, supported by regulatory developments, are driving advancements in digital commerce and cross-border transactions.
Using stablecoins to settle complicated crypto payments, Paydify , the universal gateway for crypto payments, has launched a new service which will enable businesses to accept crypto payments from any wallet or blockchain network. Merchants face technical complexity, conversion risk, and settlement delays.
The first being the indirect model, where commercial banks manage CBDC wallets and settlements directly on the UDPN, while the central bank handles wholesale settlement between commercial banks and keeps all transaction records. The PoC explored two models. Globally, over 130 countries are exploring, developing, or have launched CBDCs.
These companies span every segment of the market, from long-established remittances players and banks to neobanks, business-to-business (B2B) platforms, stablecoin providers and regional specialists, and are powering global trade. Released on May 08, the 2025 Cross-Border Payments 100 recognizes industry leaders across the sector.
Faster Settlements: Cryptocurrency transactions are typically faster than traditional banking transactions, providing merchants with quicker access to funds. This is particularly beneficial in industries where fast transaction settlements are crucial, such as e-commerce or high-frequency trading. What are Stablecoins?
Developers globally are composing new financial products at a frenetic pace, precisely because the protocols are open and interoperable. Open Banking achieved interoperability by establishing common API standards (for example, the UK’s Open Banking Implementation Entity set standard formats for data and secure connections).
Morgan’s initiatives in cryptocurrency and stablecoin technology have ramped up in recent months, for instance. One of the biggest disruptions of the payments ecosystem as a result of the growing traction of digital assets and the ubiquity of real-time settlement will be felt by corporate treasurers, Long predicted.
Soon, payments will be instantaneous, cheap, frictionless and interoperable, able to move along and across different payment rails. For businesses, A2A payments promise higher conversion rates, reduced transaction costs, and real-time settlement. “There is, however, a competition emerging between CBDCs and stablecoins.
Developments include cross-border quick response (QR) payment linkages, connectivity between real-time national payment schemes, and the ongoing Singapore Response Code Scheme (SGQR+) project focusing on furthering QR code payment interoperability.
Tech-driven Interoperability and collaboration will finally bring trillions of dollars into the digital age, Kevin Phalen , head of global business solutions at Visa , told Karen Webster in a recent interview. Interoperability will get a boost with messaging standards such as ISO 20022. That’s where the market’s going.
Key areas of impact include fraud prevention, card fee structures, accessibility standards, stablecoin usage, and the treatment of consumer data in evolving open finance ecosystems. Implementation is expected in late 2025 or early 2026, bringing stablecoin issuers, custodians, and payment processors under FCA supervision.
Nium has partnered with Partior, a blockchain-based fintech for clearing and settlement. The move makes Nium the first payment service provider to join Partior’s blockchain-based network, enabling real-time cross-border payments, clearing, and settlement across 100+ markets.
High fees, slow settlement, and poor transparency can erode margins and create operational headaches. Best for : Platforms accepting or disbursing stablecoin payments. Copper Offers digital asset custody, prime brokerage, and settlement solutions with an emphasis on institutional-grade security.
This is especially true if fees are ultra-high and settlement periods are lengthy. BIS Aurum) and interoperability solutions (e.g, Stablecoins, if used appropriately, can in fact be a means to solve this imbalance. In these types of instances, stablecoins can serve as a bridge. Deutsche Bundesbank Trigger Solution).
It enables richer, structured, and more secure messaging for payments, clearing, and settlements. USDA stablecoin on XDC Network USDA is fully backed by dollars and dollar equivalents and is a stablecoin native to Cardano. ISO 20022 is an international standard for electronic data interchange between financial institutions.
How it works VTAP provides a platform for banks to mint, burn and transfer fiat-backed tokens, such as tokenised deposits and stablecoins , and experiment with use cases. A bank could also enable their customers to use a fiat-backed token to purchase tokenised commodities or tokenised treasuries with near-real time settlement onchain.
Furthermore, a closer look will be taken at digital assets, including stablecoins, central bank digital currencies (CBDCs) and tokenised deposits, focusing specifically on interoperability and regulations.
And now, in the face of the Great Crypto crash and burn, using stablecoins tied to the stable USD to hedge against crypto volatility and create the stability needed to make everything, from lattes to Louboutin’s, buyable using crypto. And what’s needed by all the parties that rely on them today to move money safely between them.
Basis is building a “stablecoin” that is intended to be less volatile than other cryptocurrencies. Launched in 2016, the NFF helps clients integrate business processes, like clearance and settlement, with new technologies. The encrypted messaging service raised $1.7B With all this, pre-sales are a mixed bag. The road ahead.
The session, titled ‘ Seamless Transactions: The Next Leap for Digital Payments’, focused on interoperability, user experience, and the infrastructure gaps limiting wider adoption of digital asset payments.
Immediate focus areas include fraud prevention, ISO 20022 readiness, and stablecoin regulationbut longer-term success depends on active engagement with consultations, operational resilience, and global alignment. What’s next? The payments landscape is entering a defining phase of regulatory transformation.
stablecoins) help streamline operations and improve efficiency. Eliminating cross-border frictio n: Real-time payment rails can cut settlement times to seconds, reducing costs by up to 60%. While headlines tout AI chatbots and metaverse travel, the real innovation lies in payment infrastructure.
It enables near-instant settlement, reduces fees, and increases transparency. Stablecoins and central bank digital currencies (CBDCs) could further streamline payments by removing intermediaries. Interoperability between financial systems is becoming a key focus. Regulators also recognise the need for change.
The integration enables native interoperability between R3s Corda platform, private networks, and Solana, supporting tokenized assets, stablecoinsettlement, and compliance. R3 was founded in 2014 to offer real-world asset (RWA) tokenization and interoperability solutions.
On one hand, they could streamline cross-border transactions, reducing costs and settlement times. On the potential challenges of implementation, she added: “The challenge with the regulation is that it can vary hugely geographically, so finding interoperability of business models is currently a big problem in my mind.”
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