Building a Proper Cross-Border Marketplace with Bitcoin & the Blockchain
The concept of cross-border marketplace solutions has been intriguing the digital currency community for quite some time now. Keeping in mind how Bitcoin payments can take place across borders without any currency conversion along the way, it only makes sense to develop a business model that plays to those strengths. But there are other financial players....
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PRESS RELEASE. To simplify banking and meet its users’ Remittance needs across the globe, Remitano, a global escrow-marketplace, has just launched a smart, free, and safe approach for cross-border money transfers. This system will allow users to send and receive money from other countries without incurring the high fees charged by most traditional banks. Remitano exchange now doubles as both a speed bank and a digital store to mitigate against losses from inflation. Free Remittance and Cheaper Average Costs for Global Money Transfers As a result of the launch of Remitano’s....
The UK government has awarded £248k to a startup that is building a cross-border payments tool using Ethereum. Founded in 2007, Innovate UK is a nondepartmental public office dedicated to fostering innovation through grants and investments. In interview, Tramonex co-founder and CEO Amine Berraoui said his company will use the money to further develop its cross-border blockchain tool. London-based Tramonex already offers cross-border money transfers across 45 different currencies. Berraoui told CoinDesk: "We are quite advanced in our prototype already, it’s more about looking for....
Bitcoin looks suitable for Russia’s crypto cross-border payments at first glance, but there are many reasons why such a choice is highly questionable. Despite Russia pushing the idea of using cryptocurrencies for cross-border payments, it still remains unclear what digital asset exactly the government plans to adopt for such transactions.Russian authorities are quite unlikely to approve the use of cryptocurrencies like Bitcoin (BTC) for cross-border transactions, according to local lawyers and fintech executives.Bank of Russia needs to control cross-border transactionsIt’s “highly....
In an apparent snub to Ripple, Thailand’s oldest bank, Siam Commercial Bank (SCB) is set to open a new cross border remittances corridor in partnership with Lightnet, a fintech company that uses the Stellar blockchain. SCB says the partnership opens the door for more efficient cross border funds transfer from South Korea to Thailand. Before choosing Lightnet, SCB teamed up with Ripple’s partner Azimo in April to open a payment corridor between Thailand and Europe by using the Ripplenet. However, in announcing the new partnership, an executive with SCB lauds the new service....
Twelve member banks of the R3-led banking blockchain consortium and the New York-based startup have trialed Ripple’s native digital currency token XRP, using the Fintech startup’s blockchain technology. The trials were conducted at R3’s lab in an effort to demonstrate cost-cutting and increased efficiency of cross-border payments using Ripple’s ‘digital asset’. The twelve R3 member banks involved in the trial include Barclays, BMO Financial Group, CIBC, Intesa Sanpaolo, Macquarie Group, National Australia Bank (NAB), Natixis, Nordea, Royal Bank of Canada (RBC), Santander, Scotiabank, and....