News Topic: Remittances

Despite controversy surrounding Ripple’s digital token, one bank is pushing forward to use it in cross-border payments. ... Read full article

A 10-year exemption for banks offering estimated fees and exchange rates under the rule, instead of exact amounts, is set to expire in 2020. Lawmakers should consider a temporary extension. ... Read full article

Before the rule was issued, banks and money transfer companies acknowledged that better disclosures and other steps were necessary in light of higher costs for international money transfers. ... Read full article

WorldRemit's ambitious goals for its U.S. payment operations say a lot about how immigrants here are changing as customers — they’re digitally savvy, connected and mobile-ready. ... Read full article

Plans by IDT and MercuryFX to test XRP for cross-border payments are another vote of confidence for Ripple’s products. ... Read full article

BBVA has launched a new mobile app that is designed to help people in the U.S. send money to friends and family in Mexico — more quickly and cheaper than traditional remittance methods. ... Read full article

China’s crackdown on cryptocurrency exchanges raises questions about the future of digital asset innovation, a movement that some bankers view as a threat and others embrace as a boon to payments, P-to-P lending and other activities. ... Read full article

As an open network, bitcoin is in one sense the most inclusive financial system imaginable. But for now, transfers of the cryptocurrency are priced like a luxury good. ... Read full article

Citi is holding its first investor day since the financial crisis, plugging credit cards and its Mexican business; Morgan Stanley's market cap tops Goldman's for the first time. ... Read full article

Host Brett King talks to Bill Barhydt of Abra and Shachar Bialick of Curve. ... Read full article

The Trump administration must weigh risks to national security in its review of the $1.2 billion deal. Its decision will shed light on whether — given the president’s “America First” rhetoric — Chinese investment is still welcome in the U.S. financial ... Read full article

The move is noteworthy because Delatinne had led customer engagement for Swift’s global payments innovation initiative, with which Ripple’s cross-border payment system competes. ... Read full article

A new company, bridge21, says it is using bitcoin to allow users to send money from the United States to Mexico at better rates than traditional payments companies. ... Read full article