RBS Looks to Simplify Cross-Border Payments
Cross-border payments can be a hassle, but the Royal Bank of Scotland (RBS) is looking to change all that with a new Ethereum-based system designed to remove inefficiencies and errors that come with transactions that occur beyond home-based borders. Sending money overseas can be a very lengthy and costly experience, which is why several have turned to bitcoin and digital currency over the years to get the job done. As usage has increased, remittance fees for bitcoin have subsequently dropped, making it easier for migrant workers to send money home to their families. In the case of....
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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....
The central banks of Australia, Singapore, Malaysia, and the Republic of South Africa have set out to test the use of state-issued digital currencies in cross-border payments. The trial, led by the Bank for International Settlements, aims to establish whether they can simplify transactions and make them cheaper. Reserve Bank of Australia Teams Up With Counterparts in Asia-Pacific, Africa on CBDC Project While a number of nations are still testing their central bank digital currencies (CBDCs) in domestic applications, some are preparing to conduct international experiments. The Reserve....
PBOC’s Digital Currency Institute and the HKMA are discussing the technical pilot testing of using e-CNY form making cross-border payments.
The panel will discuss the private-sector's role in addressing shortcomings of cross-border payments.
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....