The Blockchain as a Settlement Rail for Payments
Align Commerce recently made headlines at Money 2020 in Las Vegas when their CEO, Marwan Forzley, spoke at one of their panel discussions about cross-border invoicing using the blockchain technology as a transport rail. CoinTelegraph sat down with him afterwards to talk more about this new settlement rail and his thoughts on its future in the financial services market. CoinTelegraph: First, for those who don’t know, what is a payment rail? Marwan Forzley: A payment rail is a payment platform or a payment network that moves money from one entity (a payer) to another (a payee). The payer or....
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Align Commerce, a San Francisco, Calif.-based cross-border payments service provider, has established a “China corridor” to allow businesses to easily send and receive payments to and from Asia’s largest economy. With the value of bilateral trade between the U.S. and China surpassing $555 billion in recent years, businesses in both countries will now reap the benefits of Align Commerce’s multi-rail technology that combines the blockchain with traditional payments, real-time payment tracking and easy invoicing. Align Commerce, in celebration of the Chinese Lunar New Year and to mark the....
The company formally known as Align Commerce has raised $24m as part of its plan to simplify global fiat currency payments using the bitcoin blockchain. Now rebranded as Veem, the company that aims to make bank wire transfers extinct, will first use the new funds to usher in two-way transactions in all of the countries it already does business with. Then, later this year, the company plans to spend additional resources leveraging an upcoming hiring spree to accelerate the rate it expands into additional markets. But perhaps the most dramatic change going forward could be the addition of a....
The Iron Rail Diner's co-owners Kim Linn and Terry Linn stand next to a "DOGE Coins Accepted Here" sign. You may have heard of The Iron Rail Diner, the diner that has become known in the Dogecoin community for its acceptance and embrace of Dogecoin. The Iron Rail Diner is a diner in Maryland which has graciously accepted Dogecoin, along with Bitcoin and Litecoin. The Diner's co-owner, Terry Linn, is active on the dogecoin subreddit, where he asks for ideas and shares the latest Iron Rail Diner news. Yesterday, Iron Rail hosted a "Dips for Doge" event in which the community's donations paid....
Rail cargos from China to Europe can now be delivered in days instead of months, after a new blockchain system was installed at a major Chinese rail port. The China-Europe rail trade route has been subject to a major speed upgrade thanks to the application of blockchain technology, reports China’s People’s Daily Online.The Chengdu International Railway Port in Sichuan province was installed with the blockchain-powered Sino-Europe Trade Link 2.0 platform by the Industrial and Commercial Bank of China.As well as cutting down on time-consuming logistical document checks, the new system will....
Blockchain, the bitcoin-centric startup, recently offered an update on its Thunder Network on-chain settlement, having released the alpha version in May. Blockchain released the alpha version of its Thunder Network as a payments channel to be the first usable implementation of the Lightning network for off-chain bitcoin payments that settles back to the main bitcoin blockchain, CCN previously reported. The payment technology prototype is described by Blockchain as a “way to send money ‘off-chain’ to other parties in a trustless manner based on the Lightning network.” Blockchain claims....