Fintech News

MAY 12, 2024

XREX Singapore, a blockchain-enabled financial institution specialising in cross-border payments, has been granted a Major Payment Institution (MPI) license by the Monetary Authority of Singapore (MAS). Dollar (USD), and will support stablecoins like USDT and USDC, adhering to the Financial Action Task Force (FATF) travel rule.

Cross-Border 111

Cross-Border Cross-Border Payments Travel Rule Regulatory Compliance 111

PYMNTS

JUNE 18, 2020

The international, cross-border payments industry has been ripe for disruption and we see PayID playing a pivotal role in achieving that,” Gaurav Dahake, CEO of BitBNS, said in the release. “We We are excited to facilitate borderless, frictionless instant transactions for free for users.”.

Bank Routing Number 98

Bank Routing Number Cross-Border Payments Fincen Payments 98

Fintech News

FEBRUARY 18, 2024

This includes the development of proprietary technologies such as workflow builders, liveness and deepfake detection, and mechanisms to adhere to the travel rule. “As regulators made the travel rule a compliance requirement, the world is fast evolving to adopt the travel rule.

Verification 117

Verification Travel Rule Multi-Currency Compliance 117

The Fintech Times

JUNE 3, 2024

Users will be able to send cross-border and domestic transfers across multiple currencies and blockchains. Mastercard Crypto Credential supports the exchange of travel rule information for cross-border transactions.

Credential 64

Credential Visa Cross-Border Travel Rule 64

Fintech News

JULY 17, 2024

Cross-Border Collaboration and Public-Private Partnerships The report emphasises the need for global cooperation to address the borderless nature of cryptocurrency transactions. Singapore’s Payment Services Act (PSA) brings crypto businesses under regulatory oversight, imposing strict AML/CFT requirements. billion in 2024.

Money Laundering 107

Money Laundering Law Enforcement AML Non-Bank 107

Fintech News

JANUARY 24, 2024

Per FATF (Financial Action Task Force) standards, compliance with the Travel Rule mandates DPT services to share client information for transactions, ensuring further safety in digital transfers. It also lays out a modular licensing framework comprising three different license classes.

Service Provider 98

Service Provider Cryptocurrency Payments Institute Stablecoins 98

The Payments Association

JANUARY 31, 2025

As crypto reshapes finance, the FATF’s Travel Rule struggles to keep pacecan global regulators close the gap on illicit transactions? Unlike traditional banking, crypto transactions often involve pseudonymous addresses, decentralised platforms, and non-custodial wallets, making it far more difficult to enforce the Travel Rule.

Travel Rule 88

Travel Rule Wire Transfer Rules Compliance 88