Cross-Border Payments

The U.S. Senate's passage of the GENIUS Act marks a watershed moment for stablecoins, offering long-awaited regulatory clarity that could unlock trillions in institutional capital. Industry leaders hailed the bipartisan vote as a breakthrough for financial innovation, with fintechs and banks now...

A new report indicates that stablecoins, currently a $163 billion market, could grow to represent 10% of the U.S. money supply, hinging on regulatory clarity, which appears increasingly likely under the incoming Donald Trump‘s administration. What Happened: "Stablecoins have the potential to...

The global standard-setters have declared that no current stablecoin satisfies all pertinent regulatory mandates and that even if a fully compliant stablecoin were to emerge, its efficacy in enhancing cross-border payments remains questionable. This revelation is like to be a topic of...

Standard Chartered Bank's (OTC: SCBFF) SC Ventures and Deutsche Bank (NYSE: DB) have successfully conducted a Universal Digital Payments Network (UDPN) proof-of-concept, facilitating real-time transactions between USD Coin (CRYPTO: USDC) and EURS stablecoins. In this initiative, SC...

Brendan Berry stands out as a seasoned product management professional with an expansive career journey that spans leading tech companies. Currently serving as the Head of Payments Product Management at payment protocol Ripple (CRYPTO: XRP), Berry steers the helm of its payment...

With people's belief in Bitcoin (CRYPTO: BTC) and its finite supply, the digital asset has the potential to become a global reserve asset, Jamil Nazarali, CEO of EDX Markets, said on Tuesday. In an interview with Benzinga, Nazarali, who will be speaking at the upcoming Benzinga Future...

Agustin Carstens, the general manager of the Bank for International Settlements (BIS), has emphasized the importance of establishing legal frameworks to support the implementation and growth of Central Bank Digital Currencies (CBDCs). This topic is expected to be a focal point at Benzinga's...

JPMorgan Chase & Co. (NYSE:JPM) is reportedly exploring the development of a blockchain-based digital deposit token to enhance the efficiency of international transaction settlements. As Bloomberg reported, the largest bank in the U.S. has already laid the groundwork for this...

The Bank of Russia is gearing up for its digital ruble pilot test slated for Aug. 15, with all 13 banks that expressed interest in the pilot confirming their readiness. Olga Skorobogatova, the first deputy governor of the Bank of Russia, stated that these banks have finished the necessary...

The Bank for International Settlements (BIS) unveiled a new initiative called the Payments Interoperability and Extension (PIE) task force, which will feature the participation of the blockchain-powered payment platform Ripple (CRYPTO: XRP). In a recap of the PIE task force gathering held on...

The Banque de France has concluded that its wholesale central bank digital currency (wCBDC) could enhance cross-border payments, settlement finality, and security for a wide array of financial assets. This conclusion comes after conducting several tests using crypto-powered technologies. The...

Ripple is optimistic that U.S. banks and other financial institutions will begin to adopt its XRP token (CRYPTO: XRP) for cross-border payments. This follows a significant ruling that the token is not necessarily a security. Stu Alderoty, Ripple’s general counsel, revealed in an...

Software firm SAP is reportedly employing Circle’s (CRYPTO: USDC) stablecoin to examine international payment procedures. The Walldorf, Germany-based company is attempting to address the hurdles faced by businesses when executing cross-border monetary transactions. And the...

The New York Federal Reserve published results from a joint study conducted with the Monetary Authority of Singapore (MAS). Cross-border and cross-currency payments can effectively utilize Central Bank Digital Currency (CBDC) systems operating on diverse networks, the study shows. The research...

The ambitious plan by the BRICS nations — Brazil, Russia, India, China and South Africa — to create a new global currency is not only an economic endeavor but also a technological one. As these countries work together to establish a currency that could potentially reshape...