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Customers will receive a designated amount of USDC along with an invoice, enabling them to experience the benefits of fast, affordable, and reliable cross-border payments. In a significant move towards revolutionizing cross-border payments, German software giant SAP SE (ETR: SAP) has made an exciting announcement in this sphere. In a blog
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The Bank for International Settlements (BIS) has released a chapter of its annual report early. That chapter, on the future of the monetary system, discussed “a new type of financial market infrastructure – a unified ledger.” The chapter was published June 20, one day after the International Monetary Fund (IMF)
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The International Monetary Fund (IMF) has presented the outlines of a “new class” of cross-border payment system that uses a single ledger to record central bank digital currency (CBDC) transactions, programmability and improved information management. IMF officials chose a roundtable on CBDC policy to reveal their new platform concept on June
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“Our blueprint for a new class of platforms would enhance and ensure greater interoperability, efficiency, and safety in cross-border payments, as well as in domestic financial markets,” Adrian said in a speech given in Rabat, Morocco. “The cost, sluggishness, and opacity of cross-border payments comes from limited infrastructure.” Original Source
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Tokyo-based global information technology solutions company Fujitsu will launch a new platform on June 30 to connect different economies using blockchain technology, following the completion of a year-long pilot trial, it said in a press release Thursday.See related article: Japan to implement anti-money laundering rules for crypto: report Fast factsThe now-complete
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Rosbank, one of Russia’s systemically important banks, has announced the launch of a new cross-border settlement solution in the realm of cryptocurrencies. The financial institution’s representative confirmed that Rosbank is currently engaged in pilot transactions with both
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The Federal Reserve Bank of New York’s New York Innovation Center (NYIC) and the Monetary Authority of Singapore (MAS) have published the results of their joint Project Cedar Phase II x Ubin+ (Cedar x Ubin+). The project examined the use of central bank digital currency for wholesale cross-border payments using
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The Chinese yuan is now China’s most used currency for cross-border settlements. According to official data from the State Administration of Foreign Exchange, the Chinese yuan rose to be the most-used currency in March over the U.S. dollar, in a push from the Beijing government to internationalize its currency
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Despite surpassing the USD in cross-border payments in China, the use of the yuan in global trade finance remains low. The Chinese yuan has become the most used currency for cross-border transactions in China. In March, the yuan overtook the US dollar for the first time in cross-border transactions in the
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Russia is taking further steps to mitigate global sanctions in place since the invasion of Ukraine in 2022. According to local media reports, the country's central bank plans to create new institutions to mine crypto assets and settle international payments. In a meeting in the State Duma — one of the
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