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Standard Chartered and Ant International have successfully completed their first Singapore dollar (SGD) transaction using the latter’s blockchain-based Whale platform. This achievement builds on a recent successful test settlement of a Hong Kong dollar (HKD)-denominated transaction between the two companies.
Almond’s blockchain-driven Settlement Optimization Engine (SOE) addresses critical speed, transparency, and cost challenges in cross-border payments. The SOE optimises transaction routes and provides near-instantaneous settlement for financial institutions globally. Our SOE works the same way.
Global asset manager and Swiss bank UBS has developed and successfully piloted a blockchain-based payment solution, aiming to increase efficiency and transparency, as well as enable the programmability of money movements for corporate and institutional clients. UBS Digital Cash looks to facilitate timely payment processing to combat this.
Deutsche Bank has joined the extended Series B funding round for blockchain-based fintech firm Partior , bringing the total raised to US$80 million and marking the close of the round. Morgan, Standard Chartered, and Temasek, Partior uses blockchain technology to enable real-time clearing and settlement.
StraitsX, a digital asset payments infrastructure provider in Southeast Asia, has partnered with Ant International and superapp Grab to launch a new blockchain-based cross-border payment system. The new system uses Purpose Bound Money (PBM), which specifies the conditions for using stablecoins, and the Avalanche blockchain.
Blockchain and payments have come to go hand-in hand since it emerged to power bitcoin, but the real pain financial institutions are looking to solve is enhancing global currency transactions and shortening settlement cycles.
Standard Chartered has used Ant Internal's Whale blockchain platform to deliver settlement of HKD-denominated intra-group transactions between various ANT entitites.
Founded in 2021, Partior utilizes blockchain technology to transform clearing and settlement, and redefine the way value moves globally. One of Singapore’s entries is Partior.
KuCoin Pay is committed to reducing transaction fees and facilitating immediate settlement of crypto payments, simplifying the process for businesses to manage transactions efficiently. The platform supports an extensive range of cryptocurrencies and blockchain networks, significantly broadening the global reach of payments.
Standard Chartered , the international cross-border bank, has become the first Euro settlement bank to go live on Partior, the global unified ledger market infrastructure, and has completed Euro-denominated cross-border transactions between Hong Kong and Singapore.
Traditional fund operations often face inefficiencies in subscription and redemption processes, including manual interventions, delayed settlements, and a lack of real-time transparency. The pilot used existing Swift infrastructure which enables end-to-end payment orchestration capabilities to settle fund subscriptions and redemptions.
As the first tokenized RWA integrated into the MTN, Ondo’s Short-Term US Government Treasuries Fund (OUSG) will allow participating businesses to earn daily yield via tokenized assets with 24/7 subscriptions and redemptions, without the need for stablecoins onramps or settlement windows.
“Blockchain payment adoption is growing because it offers an easy way to send and receive payments on a global scale,” Pair said. BitPay Send can be used for a number of different payment operations including payroll, customer cash-outs, contractor payments, rewards, and settlements with marketplace sellers.
1 will open its Signet Platform to support real-time settlement for commercial payments. The bank is collaborating with truDigital Holdings, a New York-based blockchain infrastructure, exchange and settlement technology company. Signature Bank on Jan.
DBS Bank has introduced DBS Token Services, a suite of banking services that uses blockchain technology to offer faster and more efficient transactions for institutional clients. The new services allow for 24/7 real-time settlement of payments and utilise smart contracts to increase security and transparency.
Boerse Stuttgart says it has tested the settlement of exchange transactions with blockchain-based securities against central bank money - finding that using the technology can reduce settlement times from days to minutes.
billion settlement with US authorities earlier this year. This leadership restructure is in line with Binance’s efforts to comply with regulatory standards following its legal settlement in the US. Completing the lineup are Arnaud Ventura, of Gojo & Co., and Xin Wang, CEO of Bayview Acquisition Corp.
To address these issues, countries part of the Association of Southeast Asian Nations (ASEAN) joined hand with the Bank for International Settlements (BIS) Innovation Hub to collaborate on Project Nexus.
Through collaborative innovation with global financial institutions, we leverage blockchain technology to provide 24/7 real-time cross-border settlement serviceability to our global business and clients. In 2024, the blockchain solution supported over one third of Ant International’s total processing volume.
Nuvei Corporation (“Nuvei” or the “Company”), the Canadian fintech company, has announces the launch of an innovative blockchain-based payment solution for merchants across Latin America (LATAM). The post Nuvei Launches Comprehensive Blockchain Payment Solution appeared first on FF News | Fintech Finance.
DBS has initiated the pilot of the “DBS Treasury Tokens”, a blockchain-based solution designed for next-generation treasury and liquidity management, in collaboration with Ant International. This launch underscores how established financial institutions can utilise blockchain technology to offer advanced, 24/7 banking services.
At Sibos 2024, Sergey Nazarov, Co-Founder of Chainlink, highlighted the growing adoption of blockchain technology by asset managers, driven by efficiency gains in settlement, payments, and collateral management.
“This funding accelerates our global expansion, enabling us to empower payment companies with seamless, real-time settlement infrastructure and drive the future of payments.” By leveraging USDT for real-time settlements and instant payouts, MANSA is solving critical pain points for payment companies operating in emerging markets.
ECS Fin , which works in transaction processing optimization, will launch a pilot program to test the integration of blockchain services of Apifiny 's Roxe network to help companies save time and costs on B2B payments, according to a press release.
Blockchain companies raised more venture capital and private equity funding in H1’21 than any full year in history. download our best of blockchain research. download our best of blockchain research. But blockchain’s potential extends well beyond crypto and NFTs. First name. Company name. Phone number.
Ant International will be able to use the digital form factor to achieve instant, multi-currency treasury and liquidity management on DBS’ permissioned blockchain for their entities across multiple markets. DBS Treasury Tokens enables Ant International to reduce the settlement of intra-group transactions from potentially days to seconds.
Emirates NBD has entered a strategic agreement with Singapore-based blockchain platform Partior to improve its cross-border payment capabilities. The partnership will allow Emirates NBD to offer clients faster, around-the-clock payment processing through Partior’s blockchain-based platform for clearing and settlement.
This massive market, which includes a broad range of financial “plumbing” services, could be poised for a blockchain shake-up. But a growing number of companies want to employ distributed ledger technology (DLT) — which uses tech like blockchain to offer a simpler, streamlined way to verify transactions — to upend this status quo.
Standard Chartered is the first Euro settlement bank to go live on Partior, the global unified ledger market infrastructure, integrating blockchain innovation directly into the bank’s payment systems
KuCoin Pay will reduce transaction fees and facilitate immediate settlement of crypto payments, aligning with the company’s goal of enhancing the blockchain ecosystem. Furthermore, the new platform will be able to broaden the reach of payments across the globe as it supports a large range of cryptos and blockchain networks.
Plus, blockchain makes new inroads in the B2B arena. As Canada gears up to launch its real-time payments system, the Real-Time Rail (RTR), Payments Canada , the entity at the head of the initiative, has announced that Mastercard -owned Vocalink has been chosen as the clearing and settlement solution provider for the new payment rail.
BX Digital, a subsidiary of Boerse Stuttgart, has received conditional approval from Swiss market regulators to operate a blockchain-based settlement system for digital assets.
Blockchain technology, initially synonymous with cryptocurrencies like Bitcoin , has evolved beyond its origins. This article delves into the diverse ways blockchain is reshaping fintech, focusing on smart contracts, cross-border transactions, and enhancing transparency and security.
Nium, a global payments infrastructure provider, announced a partnership with Partior , a blockchain-based clearing and settlement network, at the Singapore Fintech Festival 2024. Partior’s platform addresses key inefficiencies in global payments by cutting settlement times, lowering costs, and improving transparency.
Emerging technologies such as artificial intelligence (AI) and blockchain are being adopted at a fast pace, with generative AI becoming a critical tool for financial institutions. Finally, the fintech startup ecosystem continued to diversify, a trend which is evident in the rapid growth of Web 3.0,
Not all that long ago, blockchain and bitcoin were inseparable – shorthand for the Wild West of cryptocurrencies and speculation. One firm, tZERO Group , is betting that blockchain can help disrupt capital markets themselves. Blockchain can help automate compliance efforts and settle trades with speed. The Use Cases .
patent on a computer system that would convert physical dollars and other fiat currencies into digital versions, complete with denominations and serial numbers and recorded via blockchain. Credit card giant Visa has filed an application for a U.S. The system would then remove the paper currency from circulation.
The UK’s Regulated Liability Network has chosen R3 , a company specialising in enterprise distributed ledger technology and services, as well as Quant , a blockchain provider for finance, to develop the technology prototype for its experimental stage.
dollar to settle transactions, as blockchain technology gains more acceptance in the established financial system. ]]. said its payments network will use a stablecoin backed by the U.S.
The report, based on a survey of over 50 financial institutions across Asia, reveals that the digital assets space is poised for significant growth as institutional investors seek to diversify their portfolios and capitalise on the benefits of blockchain technology. of respondents predicting their growth in the coming years.
HashCash Consultants , which works in blockchain, is working with an unnamed U.S.-based based bank to help them finance their corporate trade owing to a sophisticated blockchain platform for B2B payments, a press release says.
” Blockchain-enabled cross-border payments StraitsX , a payments infrastructure provider for the digital assets space in Southeast Asia, has officially gone live in partnership with Ant International and Grab. Visa is committed to meeting the evolving demands of consumers and merchants, ensuring seamless and secure payments.”
It’s been several months, if not years, since blockchain was the darling of tech startup investors, but this week proved the technology still has a lot to offer venture capitalists. blockchain startup Envoy will be used to bolster its supply chain and trade finance platform, the company told PYMNTS in an emailed announcement.
Distributed ledger technology (DLT) — which uses tech like blockchain to verify transactions without the need for a centralized authority — is gaining traction as a way to revamp capital markets infrastructure by making it more streamlined, improving transparency, and reducing associated fees. Submit your application here before November 25.
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