Crypto Markets News 

Ripple, SWIFT Vie For Top Cross-Border Payments Spot

“Competition in the cross-border payments market is on the rise as blockchain firm Ripple and payments messaging company SWIFT vie for market leadership” reports pymnts.com. We have our own cloud and API solutions and are already doing payments in minutes or even seconds.” Part of SWIFT’s efforts to improve speed and efficiency of global payments includes its Global Payments Innovation (GPI) initiative, which has 165 banks signed on for its service.Reports in the Financial Times this week highlighted the increasing competition in the market as Ripple continues to add banks…

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Kuwait Finance House Joins RippleNet for Improved…

“Kuwait Finance House is the first Kuwaiti bank to join RippleNet” writes Jp Buntinx for livebitcoinnews.com. RippleNet is the blockchain payments venture by Ripple.Moreover, it allows them to offer competitive and cheaper cross-border payments in the Middle East and beyond. “This is great news for the Kuwait Finance House, as it continues to add solid foundations to the major banking partnerships.This particular bank wants to achieve instant blockchain payments sooner rather than later. Source: livebitcoinnews.com Share This:

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SFC Signs On to IOSCO’s Cross-Border Regulation Plans

“Aside from having a long-winded name, the regulation aims to provide securities regulators across the globe with greater powers to clamp down on financial misconduct” reports financemagnates.com. The regulation was put in place 15 years after similar regulation, the Multilateral Memorandum of Understanding Concerning Consultation and Cooperation and the Exchange of Information (MMoU), was deemed unfit for purpose. Source: financemagnates.com Share This:

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DBS Enables Real-Time Payments Tracking For SMBs

“DBS already enables real-time payments for business customers who are sending funds to another business within the DBS network via its PriorityPay service” reports pymnts.com. Singapore bank DBS is introducing the ability for small businesses and larger corporates to track their cross-border payments in real time.DBS said it also plans to roll out the tracking service to its business customers in China, India, Indonesia and Taiwan in the coming months.Earlier this year, SWIFT gpi rolled out the Tracker solution to enable banks and their customers to track payments across borders…

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SWIFT To Introduce Real-Time Payments To APAC

“ANZ, Bangkok Bank, Bank of China, China Construction Bank, China Guangfa Bank, Commonwealth Bank, DBS, ICBC, Kasikornbank, NAB, Siam Commercial Bank, UOB and Westpac are participating in the collaboration with SWIFT, the publication said” reports pymnts.com. SWIFT gpi, launched last year, provides financial institutions with infrastructure to facilitate transparent, faster cross-border payments.Payments messaging company SWIFT is hoping to launch real-time payments services in the Asia Pacific region, according to Verdict reports on Friday (April 20).The partners aim to launch the new service in phases, first focusing on banks’ settlement of…

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European utilities retrench as cross-border deals lose appeal

“Now, not much of the cross-border deal euphoria is left” reports businessinsider.com. The spate of cross-border utility takeovers before and just after the 2008 financial crisis came as 10 countries joined the European Union in its biggest enlargement and European power companies saw a chance to become regional power giants. I would have to think very hard to find an answer,” said an M&A banker based in Frankfurt, who has worked on German and European sector deals. Source: businessinsider.com Share This:

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Cannabis company Cronos Group shares jump 5.6% on news of cross-border joint venture with MedMen

“Toronto-based cannabis company Cronos Group Inc.’s shares CRON, -3.81% surged 5.6% in premarket trade Monday, after the company said it has entered a cross-border joint venture with MM Enterprises USA LLC, or MedMen Enterprises, to develop branded products and open stores across Canada” writes Ciara Linnane for marketwatch.com. Cronos shares have gained 265% in the last 12 months, while the S&P 500 SPX, +0.17% has gained 16%.MM, a company with facilities in California, Nevada and New York, will join forces with Cronos, which has a footprint in Germany, Israel and…

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Here’s why Visa B2B Connect should target small businesses

“Visa B2B Connect, a cross-border business-to-business (B2B) platform that will leverage blockchain technology to simplify cross-border bank-based B2B transactions, is forging new bank partnerships as it gets closer to launch” writes Jaime Toplin for businessinsider.com. Extending its work with banks and building out a real-time B2B solution that targets players that might benefit from it the most could help Visa scale B2B Connect quickly upon its launch. Source: businessinsider.com Share This:

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UAE Exchange Partners With Ripple

“UAE Exchange, one of the largest payment providers in the Middle East, announced that it has signed a deal with Ripple to join its blockchain for cross-border payments” reports pymnts.com. UAE, which is based in Abu Dhabi, will now become a member of RippleNet, a decentralized global network of banks and payment providers that utilizes Ripple’s technology to deliver instant, on-demand and low-cost global payments services to their customers. “Incorporating Ripple’s blockchain technology into our payments systems will bring customers an enhanced, new payments experience,” said Promoth Manghat, CEO of UAE…

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