Examples of using Cross-border payment in English and their translations into Chinese
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However, the authority believes cross-border payments are currently inefficient and expensive, and digital currency could help solve the problem.
Tom Shaughnessy, head of cryptocurrency research firm Delphi Digital, said JPM Coin for cross-border payments directly threatened Ripple and its digital currency XRP.
CIMB will integrate Ripple's XCurrent product, a software solution for expediting cross-border payments, for its“SpeedSend” remittance product.
Our banks can work together on new models of cross-border payments to improve settlement time, allow for round the clock operations, and reduce settlement risk.”.
From enhancing customer experience in day-to-day trade, finance and cross-border payments, to smart contracts and IoT security, blockchain is transforming the way companies do business.
Indeed, B2B cross-border payments, traditionally by fragmentation and opacity, are a potential use case for the successful implementation of DLT.”.
Aranda emphasized the company's focus on cross-border payments and that they want to be more competitive than traditional payments network SWIFT.
Launched in 2012, Ripple“enables banks to settle cross-border payments in real-time, with end-to-end transparency, and at lower costs.”.
This network allows banks and other financial institutions to settle all cross-border payments in real-time, at lower risks, with end-to-end transparency.
The Chinese market contributes one-fifth of PayPal's cross-border payment business, while cross-border payments account for 21% of its total business.
Mastercard, meanwhile, is launching its own blockchain network to enable partner banks and merchants to make cross-border payments faster and more securely.
The question arises though, of whether Big Tech firms should be trusted to manage global cross-border payments, potentially via global stablecoins.
In addition, central banks and governments are considering adopting these technological innovations to change existing frameworks, especially involving cross-border payments or remittances and general payments. .
A fragmented world, with differing standards, processes, norms, and regulations is the key challenge in cross-border payments today.
While talking about innovation and new products to facilitate banking, Botin revealed that Santander had joined hands with Ripple to facilitate cross-border payments.
Recently, its central bank revealed that it is considering blockchain applications for cross-border payments, supply chain financing, and document authentication.
Launched in 2012, Ripple“allows banks to settle cross-border payments in real-time, with end-to-end transparency, and at lower costs.”.
For the first time, public blockchain technology is being used in production to facilitate cross-border payments in multiple integrated currency corridors.
Also confirm that you are ready to receive cross-border payments and that you adapt your products and services to appeal to your targeted audience.