Category: cross-border payments

BIS Releases Report On ‘Project Icebreaker’ — Develops Cross-Border Retail CBDC Payment Model

The Bank for International Settlements (BIS) has released a report summarizing the “Project Icebreaker” trial, which explored the potential advantages and difficulties of utilizing a retail central bank digital currency…

UAE Launches ‘Financial Infrastructure Transformation’ Program; CBDC Among 9 Key Objectives

On Feb. 12, 2023, the Central Bank of the United Arab Emirates (CBUAE) announced the launch of a new initiative called the “Financial Infrastructure Transformation Program,” which has nine key…

Bank of Russia to Test International Crypto Payments With Companies

The Central Bank of Russia plans to use cryptocurrency for cross-border payments in trials with private companies, a member of its top management has revealed. The testing will be conducted…

Bank of Russia to Test International Crypto Payments With Companies

The Central Bank of Russia plans to use cryptocurrency for cross-border payments in trials with private companies, a member of its top management has revealed. The testing will be conducted…

Putin Calls for International Settlements Based on Blockchain and Digital Currencies

Russian President Vladimir Putin believes a new system for international money transfers is needed to reduce dependence on big banks and third parties. He is convinced that cross-border payments relying…

Russian IT Firms Lobby for Crypto Payments in Software Exports

Companies developing software solutions for foreign customers are urging Russian authorities to allow them to accept crypto payments. The proposal is part of a package of measures aimed at supporting…

Bank of Thailand Needs More Time to Complete and Launch Retail Digital Currency

The central bank of Thailand is not going to rush with the launch of its digital currency as it’s not yet sure about the benefits it would bring. According to…

Russian Companies Are Using Crypto in Trade Despite Lack of Regulation, Officials Admit

With limited access to global finances, Russian businesses have begun settling in cryptocurrency with their partners abroad. Although these are still small-scale payments, government officials have noted their increase, which…