News Topic: Cross border payments

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Potential central bank digital currencies would need to be integrated into existing payment systems alongside cash and other forms of money, Federal Reserve Chair Jerome Powell said. ]] ... Read full article

The software company in a court filing reiterated its argument that XRP is a virtual currency that doesn't need to be registered. ... Read full article

The pandemic has made for strange bedfellows. Case in point: Western Union and MoneyGram will soon share Walmart as a landlord. ... Read full article

Bank of America has launched a cross-border payment tracker though its Swift GPI module that allows clients real-time visibility into their international payments. ... Read full article

After selling the rights to its Ethereum-based technology, the bank is rebranding a venture related to cross-border payments and creating a new umbrella group to oversee all blockchain-related efforts. ... Read full article

The two agencies proposed amending the Bank Secrecy Act to lower the threshold for transfers occurring outside the U.S. that trigger recordkeeping requirements. ... Read full article

Other central banks have considered phasing out cash as they explore digital currencies. Should the idea take hold in the U.S., Federal Reserve Chairman Jerome Powell said it would not replace the physical dollar. ... Read full article

After two years of helping banks connect globally to domestic faster payments rails, Swift is planning to expand on that concept. ... Read full article

The new unit plans to connect the startups it backs, such as the global payments network Veem, with experts at the company who can provide business advice. ... Read full article

The shortage of personal protective equipment (PPE) for medical workers is one of the most troublesome elements of the coronavirus outbreak, though prior work to declutter cross-border supply chain payments provides some hope. ... Read full article

Former T. Rowe Price portfolio manager Henry Ellenbogen is making Rapyd his first bet. ... Read full article

Interoperability has become a top priority in the minds of those advancing faster payments. ... Read full article

Finabler’s Xpress Money cross-border transfer service has partnered with Geoswift to enable consumers in global markets to send funds in real time to Chinese bank accounts. ... Read full article

Ravi Menon says that Facebook's bid to create its own digital currency has laid bare shortcomings in cross-border payments and financial inclusion that banks and regulators must address. ... Read full article

TransferWise once marketed itself as Robin Hood-style rival to banks. Now it sees itself as an ally. ... Read full article

Giants like Facebook, JPMorgan Chase and Walmart are all pushing blockchain for myriad use cases, and now Wells Fargo has joined the fray with its own spin on the distributed ledger technology. ... Read full article

PNC has gone live on RippleNet, giving the blockchain company a major win in its effort to build a real-time cross-border payments network that includes large U.S. banks. ... Read full article