National Australia Bank (NAB) announced March 14 that it had executed the first-ever cross-border stablecoin transfer on a layer 1 public blockchain. The intrabank transfer used the bank’s fully backe...
Tag: crossborder
Swift Successfully Completed Testing for CBDC Cross-Border Use
Swift’s CBDC sandbox tests with 18 central and commercial banks show clear value in their solution. The solution enables interoperability with CBDC networks and existing systems for cross-border payme...
Ripple Faces New Challenge as Swift Advances CBDC Cross-Border Testing
Global financial messaging giant Swift has announced progress in its CBDC interoperability solution testing. Swift is working closely with the financial community so that, as CBDCs evolve, they could ...
SWIFT’s CBDC pilot test shows promising results for cross-border payment
On March 9, SWIFT, the global interbank messaging platform, released a statement announcing positive outcomes from their pilot test connecting various Central Bank Digital Currencies (CBDCs). The enco...
BIS Releases Report On ‘Project Icebreaker’ — Develops Cross-Border Retail CBDC Payment Model – Bitcoin News
The Bank for International Settlements (BIS) has released a report summarizing the “Project Icebreaker” trial, which explored the potential advantages and difficulties of utilizing a retail central ba...
BIS Concludes “Ice Breaker” Trial For Cross-Border CBDC Implementation
BIS finalized tests on Project Icebreaker in collaboration with Israel, Norway, and Sweden. The exercise tested the technical feasibility of cross-border, cross-currency transactions with different re...
BIS proposes new cross-border CBDC payment system
According to research from the Bank of International Settlements (BIS), a transnational system that connects digital currencies issued by central banks would make it possible to make worldwide cheaper...
BIS develops cross-border retail CBDC payment system
A cross-border system connecting central bank digital currencies could allow for cheaper and safer global payments, according to a report published by the Bank of International Settlements on Monday. ...
Ripple Partner Tapped by Western Union for Cross-border Payments in Africa
The partnership would enable customers to receive money from over 200 countries. MFS Africa, a Ripple partner, has partnered with global American financial services giant Western Union. Benjamindada....
UAE Launched FIT Program to Issue CBDC for cross-border payments
New plans to introduce CBDC for domestic purposes and cross-border payments. Crypto will play a vital role in UAE global trade market. UAE has emerged as a buzzing hub for crypto and digital innovatio...
UAE set to issue CBDC for cross-border payments and domestic usage
The Central Bank of the United Arab Emirates is set to launch its CBDC. The CBDCs are part of a larger program called FIT, which seeks to accelerate digital transformation. The Central Bank of the Un...
Cross-Border CBDC Payment System Announced by Chinese Blockchain Firm
Chinese blockchain firm develops new CBDC payments system. The new platform will not allow any decentralized cryptos. There has been no mention of China’s own digital yuan in the whitepaper. Hong Kong...
Russia Partners with Iran to Build Stablecoin for Cross-border Trades
Russia, and Iran are working together to develop a gold-backed stablecoin. The stablecoin replaces fiat currencies in cross-border transactions. Russia will regulate cryptocurrency transactions in 202...
EU Agencies To Clamp Down On Cross-Border Crypto Scammers
European Union law enforcement agencies have joined forces to crack down on notorious cross-border crypto scammers. Eurojust and Europol have been working with Bulgaria, Germany, Cyprus, and Serbia to...
PayPal Xoom adds cross-border remittance on debit card deposit
Financial technology firm PayPal’s international money transfer service, Xoom, has announced a new product that lets users in the United States send money directly to Visa debit card users. In a rece...
European cross-border crypto fraud network dismantled
European law enforcement agencies have dismantled a crypto fraud network across Serbia, Germany, Cyprus and Bulgaria. The cross-border operation allegedly used call centers to defraud international vi...
Ripple Partner Launches Near-Instant Cross-Border P2P Payments With Visa
– Advertisement – DeeMoney will offer Visa customers in Thailand near-instant cross-border payments. Thailand FinTech giant and Ripple partner DeeMoney has entered a partnership with Visa ...
Strike partners with Bitnob to facilitate cross-border payments into Africa
The Lightning Network has struck Ghana, Kenya and Nigeria. During a conference in Ghana, Strike CEO Jack Mallers announced that the Bitcoin (BTC) payments company has partnered with the mobile app Bit...
Ripple draws closer to dominating the global cross-border remittance industry
Ripple expands its ODL presence into Africa through MFS Africa. Why Ripple’s approach for the African rollout has targeted a mobile payment gateway. Ripple has continued to expand its ODL services thr...
Singapore And New York Regulators Explore Cross-border CBDC PaymentS ⋆ ZyCrypto
Advertisement     In a media press release dated November 11, 2022, the Monetary Authority of Singapore (MAS) and the New York Fed announced a collaboration project (P...
New York Fed Completes Pilot For Cross-border CBDC Transactions
Central banks around the world have made massive investments into CBDC’s research. The FED, despite lagging behind other peers in the race, has sharply ramped up efforts to issue its CBDC in recent ti...
J.P. Morgan performs its first DeFi cross-border transaction, details inside
The American multinational investment bank JP Morgan on 2 November completed its first-ever decentralized finance (DeFi) on-blockchain cross-border transaction. It is a part of the Project Guardian in...
Singapore’s MAS Starts Wholesale CBDC Project Ubin+ for Cross-Border Payments
While central banks around the world are looking into digital iterations of local sovereign currencies for use by citizens in daily transactions, progress on wholesale CBDCs – that can be built on tec...
New Mining Bill Permitting Cross-Border Crypto Payments Filed in Russian Parliament – Mining Bitcoin News
A draft law designed to regulate the mining of digital coins in Russia is also legalizing the use of cryptocurrencies in international settlements. It has been submitted to the Russian parliament afte...
20 Banks Settled Cross-border Transactions Over $22M through BIS CBDC Project ‘mBridge’
– Advertisement – BIS’ Project mBridge Facilitated 164 FX Transactions Totaling $22M+ in Its 6-Week Pilot Stage. The mBridge Project has demonstrated efficient cross-border settlements, ...
SWIFT action: JPMorgan and Visa team up on cross-border blockchain payments
Visa is set to integrate its B2B Connect network with JPMorgan’s suit of blockchain-based cross-border payment products. Traditional finance and payment giants JPMorgan and Visa are teaming up to stre...
SWIFT Connects a Quorum and Corda Blockchain For Cross-Border Payments – Trustnodes
SWIFT, the world’s biggest financial messaging system has launched a running sandbox where blockchain based central bank digital currencies (CBDC) can connect to each other globally through SWIFT, as ...
BIS Proclaims Success in Multi-CBDC Cross-Border Payment Pilot Project BIS Proclaims Success in Multi-CBDC Cross-Border Payment Pilot Project
The Bank for International Settlements (BIS) on Tuesday announced that a multi-jurisdiction CBDC pilot spearheaded by BIS Innovation Hub has been successful. The project saw 164 transactions worth nea...
Russia unlikely to choose Bitcoin for cross-border crypto payments: Analysis
Despite Russia pushing the idea of using cryptocurrencies for cross-border payments, the specific digital asset the government plans to adopt for such transactions still remains unclear. Russian autho...
Swedish Riksbank Explores Cross-Border Payments in Project Icebreaker – crypto.news
In a press release on Wednesday, the Swedish Central Bank ( Sverige Riksbank) announced that in partnership with the central banks of Norway and Israel, along with the Bank of International Settlement...