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DBS has announced the pilot launch of DBS Treasury Tokens, a next-generation treasury and liquidity management solution, in collaboration with Ant International. DBS Treasury Tokens enables Ant International to reduce the settlement of intra-group transactions from potentially days to seconds.
Modern Treasury , essential infrastructure for the new era of payments, has announced that it has expanded instant payments support for mutual customers of six leading banks — Bank of America, Cross River, JPMorgan Chase, PNC Financial Services, U.S. Today, Modern Treasury’s customers move over $1 billion in instant payments volume annually.
The network supports a range of usecases, including supplier payments, remittances, payroll, capital markets settlement, treasury operations, and onchain financial applications.
Since its launch, RLUSD has reached a market capitalisation approaching US$250 million and recorded nearly US$10 billion in trading volume. Ripple confirmed that select customers, including payment providers BKK Forex and iSend, are already using the stablecoin within Ripple Payments to manage cross-border treasury operations.
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. DBS Treasury Tokens aim to address the needs of large corporations like Ant International, which operate across multiple markets.
Through a collaboration with J.P.Morgan Chase, ClearBank will connect its business customers to multiple currencies as well as FX pricing information via application programming interface (API) integration, which will also link users to treasury and liquidity management solutions.
RLUSD is ideal for financial usecases and allows institutions to: Facilitate instant settlement of cross-border payments. Access liquidity for remittance and treasury operations. Provide collateralization for trading tokenized real-world assets such as commodities, securities, and treasuries onchain.
The digital shift brought on by the coronavirus has caused treasury banks to reprioritize their support of digital payments as consumers and merchants increasingly demand fast, easy and secure ways to get their money. Hernandez touts end-to-end solutions like Mastercard Send as the kind of solution that many treasury banks are adopting.
With more emerging usecases and an increasingly accepting regulatory landscape, cryptocurrencies are gaining traction in new areas of the market, and corporate treasurers want in. Evolving UseCases. A third wave is on the horizon, said Sully, and it involves some major changes ahead for the treasury department.
Blockchain is increasingly garnering headlines and attention for its usecases beyond cryptocurrencies. One area where elimination of such processes can be of benefit is treasury management — specifically, reconciliation of transactions and liquidity management. Real-Time Window To Treasury Management.
Patrick Moore , executive vice president and head of Capital One ‘s Treasury Management Product Management group, told PYMNTS that these collaborations offer the ability to integrate niche FinTech capabilities into Capital One’s broader range of services. But this usecase can easily be applied to other industries, too.
Real-World UseCase Imagine a large eCommerce business with separate teams handling customer support, vendor payouts, and treasury operations. With the Team Members Feature, the support team can get a view-only access to transaction history, finance managers can initiate transfers, and senior leadership can approve them.
RLUSD is being used in the payment flow with select customers, including cross-border payment providers BKK Forex and iSend to improve their cross-border treasury operations. Over time, Ripple will also expand the use of RLUSD for our payments customers. Access liquidity for remittance and treasury operations.
In a panel discussion with Karen Webster, six payments, banking and FinTech executives weighed in on the very nature of change that is transforming treasury banking and corporate clients in real time. Morgan Chase ; and Brad Windbigler , head of treasury and investor relations at Western Union. Setting the Stage.
Our focus on providing complete end-to-end payment and transaction capabilities enables our clients from treasury and trade to commerce to grow, says Neukirchen. Our end-to-end solution delivers core treasury and liquidity services, what you may find at traditional banks, and commerce solutions, where fintechs typically focus, Farooq says.
Andrew Doukanaris Ambassador, The Payments Association While vIBANs have positive usecases, challenges exist in limited monitoring of the end user, alignment with the PSPs risk appetite, and the lack of a consistent framework to mitigate financial crime and regulatory risks.
On 28 August 2024, HKMA officially launched the Project Ensemble Sandbox, which will test a wide range of tokenisation usecases, including the settlement of tokenised real-world assets (such as green bonds, carbon credits, aircraft, electric vehicle charging stations, and treasury management).
Create a multi-stakeholder taskforce : Establish a taskforce to identify, prioritise and develop high-value usecases for Digital Company ID within financial services. CFITs work in countering fraud demonstrates the UKs position as an innovator within the global financial ecosystem.
By utilizing Fireblocks, Yellow Card seeks to remove obstacles for global corporate treasury, in accessing African markets, by offering secure and effective on-chain solutions. “Together, we enhance how businesses around the world manage their treasury, make payments, and drive innovation across Africa.”
Today, RLUSD is being used in the payment flow with select customers, including cross-border payment providers BKK Forex and iSend ,to improve their cross-border treasury operations. Over time, Ripple will also expand the use of RLUSD for our payments customers. Access liquidity for remittance and treasury operations.
Treasury Department is researching usecases for a central bank digital currency (CBDC), as well as drafting regulatory proposals for private stablecoins, U.K. Treasurer Chancellor Rishi Sunak said in a press release.
The plan was for Earthport to “boost Visa Direct’s pantheon of usecases, with Visa noting that the transaction count growth over the last 12 months has been more than 100 percent.”. If you are a treasury bank, you have to operate in both of those spaces,” he explained. Visa paid about $257 million for U.K.-based
Formosa Financial , a treasury management system for organizations to manage their crypto assets, is collaborating with CoolBitX , a blockchain security company, a press release said on Thursday (Dec. New usecases around personal identity management, data access authorization and more are just around the corner.
Hulsebosch will be responsible for overseeing Thunes’ financial strategies and global finance functions, including planning, treasury, tax, reporting, and investor relations. Global payments company Thunes has named Sigrid Hulsebosch as its new Chief Financial Officer (CFO). said Floris de Kort, CEO of Thunes.
These services will support diverse cross-border usecases, including foreign education payments, e-commerce transactions, and local acceptance of gig economy payments.
When Stripe announced earlier this month that it was collaborating with the likes of Citigroup, Goldman Sachs and Barclays to embed a range of financial services within its Stripe Treasury offering, it was a big step forward for the Banking-as-a-Service (BaaS) landscape. But across usecases, Bloh said two key themes are emerging.
PYUSD is characterised as an open, programmable stablecoin, backed by dollar deposits, UStreasuries, and cash equivalents. Nick Robnett “We’re excited to collaborate with Chainlink in driving the adoption of tokenised real-world assets (RWAs) across a variety of usecases, including on-chain payments.
In short, the global pandemic has ushered in rising usage — and usecases — for TCH’s RTP ® network, and Whisler doesn’t see that slowing down anytime soon. In addition to adding hundreds of institutions over the next year, Whisler is also eager to identify new usecases. “I
.” As the most used blockchain for stablecoin transfers, according to data from blockchain analytics platform Artemis , Solana has emerged as the leading blockchain to run tokenised transactions and is ideal for PYUSD as it continues to be used for payment usecases. per PayPal USD.
Just 18 to 24 months ago, Castelhano noted, plenty of corporates couldn’t even see a usecase for real-time payments. Prior to COVID-19 , she said the treasury had focused on lean operations, with little time allowed for deep dives to investigate other things. Today, treasuries have taken on a new priority.
Poland's mBank Taps Treasury Pricing FinTech. Poland's first fully-digital bank, mBank , is collaborating with kACE to integrate the FinTech's treasury pricing technology. Straight-through processing accelerates the movements of funds to businesses' accounts, the companies noted, adding that the solution will go live before year's end.
And that could open up some interesting usecases. “Ultimately, this activity opens up usecases for us to build on. “Ultimately, this activity opens up usecases for us to build on. However, there’s still a cloud of uncertainty around the use of stablecoins.”
That’s a metaphor, of sorts, and a caution for treasury management professionals as they navigate their swivel chairs, swiveling between spreadsheets on their desks, computer screens on desktops and even apps on their phones and tablets. This technology, he continued, needs to “scale up for customer-facing usecases.
However, though it is certainly a major usecase within Open Banking initiatives for FinTech firms to integrate into bank data streams via application programming interface (API), it’s not the only one. As soon as we start to see more adoption of using these types of Open Banking solutions, who knows?” Gullers said.
Key benefits of the expanded integration include: Unified Payment Integration: Carriers can swiftly adopt cloud-based ClaimsPay and PremiumPay solutions, accessing a treasury workstation to efficiently manage premiums and claims within a single interface. Details about One Inc’s integrations with J.P. Morgan Payments can be found here.
This session will be a pioneering and historic panel that promises to demonstrate what the future ecosystem of real time treasury and payment operations will look be from leading FIs, Fintechs, ecosystem orchestrators, and artificial intelligence. 14 seconds.
First Horizon Mixes Rails for Faster Treasury Payments. Using infrastructure developed by Visa within its Visa Direct service, Interchecks is leveraging its own platform to facilitate real-time transactions for corporate clients of First Horizon's treasury management solutions. and we seem to be that bridge.".
In a statement, HSBC Acting Global Head of Currencies Richard Bibbey said the institution currently manages “thousands of foreign exchange transactions within the bank, across multiple balance sheets, in dozens of countries,” illustrating the usecase of blockchain to streamline that process.
Faster Payments Council (FPC), a membership organization devoted to advancing safe, easy-to-use faster payments in the United States, is pleased to announce that Carl Slabicki, Executive Platform Owner of Treasury Services at BNY, has been named the new Chairperson of the FPC Board of Directors.
We plan to continue to deliver more usecases for merchants and consumers around the world, says Zabaneh. However, Zabaneh sees PYUSD differently, as it is backed by cash and Treasuries and is issued and managed by Paxos Trust Company, a centralized entity regulated by the NYDFS.
This is a significant milestone and a step closer to bringing more high-quality assets to the XRPL, driving new opportunities, liquidity, and institutional usecases for users, developers, and applications. Ripple is excited to announce we have begun beta testing Ripple USD (RLUSD) on the XRP Ledger (XRPL) and Ethereum mainnet.
Hulsebosch will oversee Thunes’ financial strategies and lead the global finance function, including planning, treasury, tax, reporting, and investor relations. Thunes , a global money movement innovator, has appointed Sigrid Hulsebosch as its Chief Financial Officer.
By doing that, clients will be able to reduce risk associated with payment processing across many use-cases, and will be able to work better with the numerous new compliance requirements for pre-validating data before payments or funds come through, the press release says.
The economic upheaval caused by the pandemic, paired with the government’s unprecedented twin stimulus responses, was also a major challenge for Treasury, the industry and a source of activity for Waterhouse and his team this past year. The merchant settlement usecase for the RTP network is probably one we never saw coming,” Waterhouse said.
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