Cross-border

Blockchain technology has the potential to slash transaction fees, speed up money transfers and lift up the world’s poor. Why aren’t we doing that yet?

Crypto industry’s interaction with regulators is important and quite common in Asia but missing in the US, says Brooks Entwistle of Ripple Labs.

The future global financial system will be reliant on the cloud, especially when it comes to CBDCs and stablecoins, writes Michael Greenwald and Logan Weber.

Companies in Shenzhen in mainland China made up one-third of the transaction volume in a cross-border central bank digital currency (CBDC) bridge pilot project, according to a report by Chinese media outlet 21Caijing, citing Shenzhen’s local financial authority. See related article: Australia Senator proposes regulating Chinese banks in country using e-CNY  Fast facts See related […]

The Monetary Authority of Singapore is exploring blockchain-based payments solution to solve the challenges in cross-border transactions.  See related article: Singapore warms up to crypto industry — on its own terms Fast facts The current state of cross-border payments “is slow, costly, opaque, and inefficient, relying on an archaic network of correspondent banks,” Ravi Menon, […]

The crypto market has been down for months, but the industry’s long-term future is brighter than ever, writes Guilhem Chaumont of Flowdesk. Here’s why.

Sveriges Riksbank, Sweden’s central bank, is teaming up with peers in Israel and Norway and the Bank for International Settlements (BIS) to test instant payments via retail cross-border central bank digital currency (CBDC), according to a press release on Wednesday.  See related article: Warnings on crypto, Bitcoin have materialized, says central bank body BIS  Fast […]

Blockchain can save time, money and reams of paperwork, writes Tim Bailey of Red Date Technology. But its future in global trade remains uncertain.

Upcoming digital yuan trial to piggyback on Hong Kong’s popular Faster Payment System for smoother cross-border transactions.

The transaction, using the Hedera Consensus Service network, bypasses intermediaries, lowering fees.

Interest in cryptocurrency is being driven in part by ultra-low interest rates, Reserve Bank of Australia assistant governor Michele Bullock has said, while indicating the RBA is considering the creation of a central bank digital currency (CBDC) for use in wholesale markets, according to the Australian Financial Review. Fast facts Speaking at a Women in […]

Shenzhen’s special zone for cooperating with Hong Kong, Qianhai District, will allocate 10 million yuan (US$1.57 million) to motivate enterprises to develop e-CNY-compatible businesses, especially in cross-border e-CNY and fintech labs. Fast facts The Qianhai Administration introduces the policies in a document released on Monday called “Interim Measures for Managing Special Funds for Supporting Financial […]

LuLu Exchange, a financial services company in the United Arab Emirates (UAE), and Pakistan’s Bank Alfalah are partnering to bring faster and more cost-effective cross-border payments and remittances from the UAE to Pakistan using RippleNet. Fast facts Bank Alfalah’s integration with RippleNet — Ripple’s global payments network for financial institutions — and its launch with […]

Amid the global energy crisis, nine companies from four countries — China, Japan, Australia and Saudi Arabia — announced they will jointly build a blockchain documentation platform to speed up customs clearance and cargo delivery to trade the commodities of energy, chemical products and metal. Fast facts Platform participants includes Sinochem Energy, Mitsui.Co, Macquarie CGM, Saudi […]

Blockchain payments company Ripple has partnered with Qatar National Bank (QNB) to improve cross-border payments and launch a new remittance platform, Ripple announced on Tuesday. Fast facts QNB will pilot RippleNet, a network of banks and other payment companies developed using Ripple’s technology, with QNB Finansbank in Turkey as part of a group rollout, the […]

Nigeria, Chile and Tajikistan have taken major steps in their plans for central bank digital currencies (CBDCs), while mainland China, Hong Kong, Thailand and the United Arab Emirates explore the potential for CBDCs in cross-border payments. Fast facts The Central Bank of Nigeria (CBN) has launched a website for eNaira, the country’s CBDC, which will […]

Malaysia’s Maybank and the National Bank of Cambodia yesterday announced the launch of a real-time funds transfer service between Malaysia and Cambodia — the first international partnership between a bank and Cambodia’s Bakong digital payments system. Fast facts The service facilitates fund transfers via NBC’s Bakong e-wallet and Maybank’s MAE app. It allows Maybank customers […]

Since its launch in October 2020, Cambodia’s central bank digital currency project, Bakong, has reached 5.9 million users across the country, according to a report by Nikkei Asia. Fast facts The figure includes users of member bank mobile apps, with the number of Bakong electronic wallet addresses doubling in June from three months before to […]

In a recent conference, central bankers from Cambodia and Singapore discuss how digital currencies are transforming existing payment systems for the better.

The Financial Stability Board has launched a public consultation on global targets for cross-border payments.

Ripple is partnering with Bank Dhofar, Oman’s second largest bank, to facilitate cross border mobile payments through RippleNet.

Non-fungible tokens may be a boon for art and sports collectibles, but the technology is also spawning a host of thorny regulatory and legal issues.

Despite its legal troubles in the US, Ripple expands XRP’s uses in Southeast Asia’s lucrative and fast-growing international money transfer market.

Despite its legal battles in the US over the XRP token, Ripple continues its push in Asia to grow its cross-border payments and money-transfer business.

Singapore and Thailand launch the world’s first real-time cross-border digital payment system. Here’s what else is happening in Hong Kong and China.