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Through identifying the optimal cryptocurrency, the optimal blockchain, as well as the optimal exchange for each individual settlement, our SOE empowers financial institutions and their diverse customer sets with the fastest, most cost-efficient cross-border fundstransfer technology available — regardless of location.
Increasingly, those value-added services are not only focusing on speed of payment, but also enhancing the data that end-users can access about their transactions, with new solutions from Bank of America and Scotiabank some of the latest to bring real-time rails to corporates. Visa Talks Payment Rail Innovation.
“Although competition and innovations such as mobile or eBanking have made these payments more convenient, the bulk of clearing and settlement for cross-border payments still goes through traditional correspondent banks, which struggle to handle the higher-volume, lower-value retail payments,” the CPMI noted in its report.
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