Will correspondent banking be phased out in favor of more instantaneous blockchain-based cross-border payment systems?
Given Facebook’s 2 billion strong user base, will banks become more amenable to cryptocurrency adoption as a way of maintaining their relevance in international money transfer?
Blockchain-based payments firm Ripple has entered a strategic partnership with MoneyGram, one of the largest payments firms in the world
Remittances have become a lifeline for many people in Sub-Saharan Africa, but the cost of sending money via banks and money transfer operators remains punitively high. On average, it costs 9.3% (of value transferred) to send the equivalent of $200 to the region, the highest remittance rates anywhere on the planet, according to the new […]
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Central bank digital currencies (CBDCs) featured prominently when global financial leaders met for this year’s World Bank Group and International Monetary Fund (IMF) joint Spring Meetings in the United States. Faced with emerging disruptive technologies like Bitcoin, their discussions also focused on how money and payments are taking on new forms throughout the world. There […]
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Western Union and blockchain-based platform Coin.ph’s new collaboration will enable Filipinos to conduct cross-border money transfers
Veerathai Santiprabhob, the Central bank governor of Thailand, reportedly endorsed startup Everex’s blockchain remittance system
Federal Bank, a major private Indian commercial bank, has partnered with Ripple for its cross-border remittances network
While there’s been a lot of news of cryptocurrency debit cards closing shop over the last two years, a company called Payglobal offers cryptocurrency to fiat transfers onto a user’s existing bank card. The U.K. based e-wallet service licensed by the Financial Conduct Authority (FCA) aims to provide a variety of end-to-end solutions for people […]
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The global remittance industry is huge. World Bank data shows that over $148 billion was sent abroad from the U.S. alone in 2017. As people leave nations gripped by hyperinflation, or simply move to look for better opportunities abroad, sending cash back home becomes a necessity. As the people in Venezuela are discovering, this can be […]