Tag #Cross-Border Payments

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spanish.china.org.cn

🌐 75% Global Worthiness

Sep 24, 10:21

Chinese Yuan Gains Traction in Argentina: Bank of China Event Highlights Growing Use

A Bank of China event in Buenos Aires showcased the increasing internationalization of the Chinese Yuan and its potential for facilitating cross-border transactions between Chinese and Argentine companies, with Telecom Argentina highlighting its positive experience using Yuan financing.

Chinese Yuan Gains Traction in Argentina: Bank of China Event Highlights Growing Use

A Bank of China event in Buenos Aires showcased the increasing internationalization of the Chinese Yuan and its potential for facilitating cross-border transactions between Chinese and Argentine companies, with Telecom Argentina highlighting its positive experience using Yuan financing.

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How has the Bank of China supported the increased use of the Chinese Yuan in Argentina, and what services were showcased?

The Bank of China is the only bank in Argentina offering automated Renminbi settlement. The event showcased its services including international transfers in Yuan, letters of credit, currency exchange, and swap operations to support cross-border investments and trade finance. The bank also highlighted innovative products designed to aid companies expanding globally using the Renminbi.

forbes.com

🌐 85% Global Worthiness

Jul 2, 16:14

MiCA's Impact: Global Stablecoin Growth and the Need for Regulatory Coordination

The EU's MiCA regulation, effective June 2024, has driven growth in MiCA-compliant stablecoins, prompting global regulatory responses and highlighting the need for international coordination to unlock the full potential of stablecoins as a payments and treasury tool.

MiCA's Impact: Global Stablecoin Growth and the Need for Regulatory Coordination

The EU's MiCA regulation, effective June 2024, has driven growth in MiCA-compliant stablecoins, prompting global regulatory responses and highlighting the need for international coordination to unlock the full potential of stablecoins as a payments and treasury tool.

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What is the immediate impact of the EU's MiCA regulation on the global stablecoin market and its adoption?

The EU's MiCA regulation, effective June 2024, has spurred the growth of MiCA-compliant stablecoins, including euro and dollar stablecoins, driving increased adoption for payments globally. This is evidenced by a Fireblocks report showing 58% of global financial institutions exploring stablecoin use cases and a 43% rise in Circle's EURC circulation in Q1 2025.

africa.chinadaily.com.cn

🌐 85% Global Worthiness

May 12, 10:12

Canton Fair Fintech Initiatives Boost Chinese Exporters' Global Reach

During the 137th Canton Fair, Chinese fintech platforms launched incentive programs and new services, such as WorldFirst's "Guardian Plan", to help exporters expand globally, promising faster and cheaper cross-border payments and risk management solutions. This is in response to global trade uncerta...

Canton Fair Fintech Initiatives Boost Chinese Exporters' Global Reach

During the 137th Canton Fair, Chinese fintech platforms launched incentive programs and new services, such as WorldFirst's "Guardian Plan", to help exporters expand globally, promising faster and cheaper cross-border payments and risk management solutions. This is in response to global trade uncerta...

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What immediate impact do new fintech initiatives at the Canton Fair have on Chinese exporters' global reach?

At the 137th Canton Fair, Chinese fintech platforms like WorldFirst launched initiatives to boost global expansion for exporters. WorldFirst's "Guardian Plan" integrates payment, fulfillment, and foreign exchange services, promising a 30% efficiency increase in fund circulation for SMEs. This directly addresses the challenges of slow, expensive cross-border payments in traditional methods.

forbes.com

🌐 90% Global Worthiness

Mar 27, 19:22

ICE to Explore Integrating Circle's Stablecoins

Intercontinental Exchange (ICE) will explore integrating Circle's stablecoins, USDC and USYC, into its trading and clearing operations, aiming to develop new markets and products, driven by the stablecoin market's $214 billion valuation and $35 trillion annual transfer volume by February, and ongoin...

ICE to Explore Integrating Circle's Stablecoins

Intercontinental Exchange (ICE) will explore integrating Circle's stablecoins, USDC and USYC, into its trading and clearing operations, aiming to develop new markets and products, driven by the stablecoin market's $214 billion valuation and $35 trillion annual transfer volume by February, and ongoin...

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How might the integration of stablecoins into ICE's infrastructure impact the existing financial system, particularly in terms of cross-border payments and capital markets?

ICE's exploration of stablecoin integration reflects the growing acceptance of digital currencies in traditional finance. The massive transaction volume handled by stablecoins, surpassing even Visa's throughput, highlights their potential to revolutionize cross-border payments and capital markets. This initiative is further fueled by legislative efforts in the U.S. to provide a clear regulatory framework for stablecoins, potentially solidifying the U.S. dollar's global dominance.

forbes.com

🌐 85% Global Worthiness

Feb 15, 13:09

Stablecoins Poised to Revolutionize $7.5 Trillion FX Market

Federal Reserve Governor Waller's recent speech highlights the growing importance of stablecoins in cross-border payments, emphasizing their potential to revolutionize the $7.5 trillion daily foreign exchange market by enabling near-instant settlements and reducing costs and risks, while also addres...

Stablecoins Poised to Revolutionize $7.5 Trillion FX Market

Federal Reserve Governor Waller's recent speech highlights the growing importance of stablecoins in cross-border payments, emphasizing their potential to revolutionize the $7.5 trillion daily foreign exchange market by enabling near-instant settlements and reducing costs and risks, while also addres...

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How do the characteristics and potential impact of stablecoins compare to the historical emergence of Eurodollars, and what are the key similarities and differences?

The potential disruption of stablecoins in FX markets stems from their capacity for instant settlement, significantly impacting how institutional investors manage currency exposure and liquidity. This efficiency mirrors the impact of Eurodollars in the 1950s and 60s, offering a digital alternative for holding and transferring dollars outside the US banking system. Major financial institutions are now seriously considering stablecoins due to the potential for reduced costs and risks.

europe.chinadaily.com.cn

🌐 85% Global Worthiness

Jan 17, 04:09

Yiwu Market's 22% Growth Amidst Global Supply Chain Challenges

Yiwu's Yiwu Market thrived in 2024, achieving a 22% year-on-year transaction volume increase to 252.2 billion yuan, driven by a 1 billion yuan investment in global expansion, 210 overseas warehouses, and the successful "Yiwu Pay" platform processing over $4 billion in cross-border transactions. Dail...

Yiwu Market's 22% Growth Amidst Global Supply Chain Challenges

Yiwu's Yiwu Market thrived in 2024, achieving a 22% year-on-year transaction volume increase to 252.2 billion yuan, driven by a 1 billion yuan investment in global expansion, 210 overseas warehouses, and the successful "Yiwu Pay" platform processing over $4 billion in cross-border transactions. Dail...

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How did Yiwu's investments in logistics and payment infrastructure contribute to its overall success in 2024?

Yiwu's success demonstrates the effectiveness of proactive strategies to mitigate global supply chain challenges. By expanding its international presence, improving logistics, and investing in payment platforms like "Yiwu Pay", the market has not only maintained growth but also significantly increased its global reach and competitiveness. This model offers insights for other regions facing similar economic headwinds.

europe.chinadaily.com.cn

🌐 85% Global Worthiness

Jul 16, 07:11

ASEAN's De-Dollarization: A Shift to Local Currencies and the Yuan

Driven by geopolitical uncertainties and currency volatility, ASEAN nations are increasingly using local currencies and the Chinese yuan for cross-border payments, reducing reliance on the US dollar and facilitated by initiatives like regional cross-border payment systems and currency swap agreement...

ASEAN's De-Dollarization: A Shift to Local Currencies and the Yuan

Driven by geopolitical uncertainties and currency volatility, ASEAN nations are increasingly using local currencies and the Chinese yuan for cross-border payments, reducing reliance on the US dollar and facilitated by initiatives like regional cross-border payment systems and currency swap agreement...

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What are the primary drivers behind ASEAN's decreasing reliance on the US dollar for cross-border transactions?

ASEAN nations are actively reducing their reliance on the US dollar for cross-border transactions, shifting toward local currencies and the Chinese yuan. This is driven by factors such as geopolitical uncertainties, currency volatility, and the desire to reduce transaction costs. Individuals like Malaysian investor Ian Yoong are already using e-wallets and QR codes for seamless payments in local currencies.

forbes.com

🌐 85% Global Worthiness

May 26, 07:12

Airwallex Secures US\$300M Funding Amid Fintech Downturn

Airwallex, an Australian-founded, Singapore-based cross-border payments company, raised US\$300 million in funding at a US\$6.2 billion valuation on May 21, defying a broad fintech funding downturn due to the fundamental nature of its B2B focus in a large and growing market.

Airwallex Secures US\$300M Funding Amid Fintech Downturn

Airwallex, an Australian-founded, Singapore-based cross-border payments company, raised US\$300 million in funding at a US\$6.2 billion valuation on May 21, defying a broad fintech funding downturn due to the fundamental nature of its B2B focus in a large and growing market.

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What factors contribute to Airwallex's ability to secure significant funding in a challenging fintech investment climate?

Airwallex, a Singapore-based cross-border payments company, secured US\$300 million in funding at a US\$6.2 billion valuation despite a significant downturn in fintech investment. This funding round, which included both primary and secondary shares, indicates continued investor confidence in the cross-border payments sector.

forbes.com

🌐 85% Global Worthiness

Apr 30, 07:19

Fintech Fuels Global SMB Growth: Payoneer's Impact on Emerging Markets

Payoneer, a fintech platform facilitating global transactions for SMBs, celebrated its 20th anniversary by highlighting the growth of global trade and its impact on emerging markets, with nearly 46% of Indian SMBs exporting and contributing to a projected 6.5% GDP growth in 2024-2025, contrasting wi...

Fintech Fuels Global SMB Growth: Payoneer's Impact on Emerging Markets

Payoneer, a fintech platform facilitating global transactions for SMBs, celebrated its 20th anniversary by highlighting the growth of global trade and its impact on emerging markets, with nearly 46% of Indian SMBs exporting and contributing to a projected 6.5% GDP growth in 2024-2025, contrasting wi...

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What challenges do SMBs face in international transactions, and how are platforms like Payoneer addressing these challenges?

Payoneer's 20th-anniversary event showcased the growing importance of global trade for small and medium-sized businesses (SMBs). The event highlighted how platforms like Payoneer are enabling SMBs to participate in complex international networks, overcoming payment barriers and fostering collaboration across borders. This trend is contributing to GDP growth in emerging markets, particularly in India where nearly 46% of SMBs export.

forbes.com

🌐 90% Global Worthiness

Mar 21, 13:14

Sling Money's Viral Growth in Kenya Highlights Stablecoin Utility

Sling Money, a stablecoin payment app, experienced unexpected viral growth in Kenya, reaching seven new users per second after removing its waitlist; this highlights the increasing real-world utility of stablecoins for cross-border payments, addressing inefficiencies in traditional remittance system...

Sling Money's Viral Growth in Kenya Highlights Stablecoin Utility

Sling Money, a stablecoin payment app, experienced unexpected viral growth in Kenya, reaching seven new users per second after removing its waitlist; this highlights the increasing real-world utility of stablecoins for cross-border payments, addressing inefficiencies in traditional remittance system...

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What are the potential long-term implications of stablecoin adoption for financial inclusion in emerging markets?

The rapid adoption of Sling Money in Kenya, despite the presence of M-Pesa, underscores the unmet demand for efficient international transfers. Future growth hinges on expanding accessibility and addressing regulatory hurdles in various jurisdictions; continued success could significantly impact financial inclusion globally.

usa.chinadaily.com.cn

🌐 85% Global Worthiness

Jan 17, 04:09

Yiwu Market's 22% Growth Amidst Global Trade Uncertainty

Yiwu Market in Zhejiang, China, saw a 22% year-on-year transaction volume increase to 252.2 billion yuan in 2024, driven by its expansion into international markets through investments in overseas infrastructure, exhibitions, and a cross-border payment platform, "Yiwu Pay.

Yiwu Market's 22% Growth Amidst Global Trade Uncertainty

Yiwu Market in Zhejiang, China, saw a 22% year-on-year transaction volume increase to 252.2 billion yuan in 2024, driven by its expansion into international markets through investments in overseas infrastructure, exhibitions, and a cross-border payment platform, "Yiwu Pay.

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How did Yiwu's investments in logistics and payment systems contribute to its overall success?

Yiwu's success is a direct response to global supply chain disruptions and trade uncertainties. The market's strategic investments in overseas infrastructure (210 warehouses and 13 showrooms) and a cross-border payment platform ("Yiwu Pay," processing over $4 billion in transactions) have mitigated these risks and fostered growth. This showcases a model for adapting to volatile global trade.

euronews.com

🌐 65% Global Worthiness

Nov 20, 16:08

Wero: New European Payment System Launches

The European mobile payment system Wero launches in Belgium, with plans to expand across Europe, aiming to challenge US payment giants.

Wero: New European Payment System Launches

The European mobile payment system Wero launches in Belgium, with plans to expand across Europe, aiming to challenge US payment giants.

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What is Wero, and what are its main features?

Wero, a new European mobile payment system, has launched in Belgium, Germany, and France, aiming to become a Pan-European payment solution.

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