News
MoneyGram saw a significant rise in user transaction numbers for May 2020 compared to the same period last year, coinciding with a partnership with Ripple that began last June.
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Remittances News
A remittance is a payment document, such as a bank draft, check, money transfer, etc., which is made in a foreign currency. Remittances are delivered to a debtor or remitter in his/her national currency by the third party and then are sent to the foreign creditor to pay arrears. With the appearance of digital cryptocurrency, such as Bitcoin — now functioning as a third, independent currency — the era of the remittances industry, including other kinds of international money transfers, has reached a turning point. By using modern technological systems, it is easy to convert money into any possible fiat currency with Bitcoin without even leaving home. Also, virtual transactions prevent robbery, loss or damage of money and provide quite fast confirmations.
- Analysis
Several factors make India the hallmark country for crypto adoption. Experts, however, agree that several challenges still stand in the way.
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Indians are flocking to cryptocurrency due to high remittance fees and the difficulty of exchanging rupees to a more stable currency.
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A U.S. consumer protection agency shout outs Ripple and XRP cross-border settlements in a recent regulatory update.
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FXCoin announced XRP remittance testing, one company began its security token initiative, and more headlined news from Japan this past week.
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Blockchain-based digital identity is becoming mainstream with banks, financial organizations rise to the adoption challenge.
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U.S.-Latin American remittance provider reveals that Ripple is not being used for remittances in its “core markets.”
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Thai fintech DeeMoney has deepened its integration with blockchain-based financial services network RippleNet, further consolidating Ripple’s presence in Asia.
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CBDC’s and currencies such as Facebook’s Libra could force the U.S. to adapt to save its spot as the world’s leading currency, ING economist Carlo Cocuzzo explained.
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13,000 South Korean ATMs will soon facilitate fiat withdrawal and international remittance services using Litecoin.
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The blockchain-based payments firm gave millions to MoneyGram over two quarters in 2019.
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The National Bank of Egypt has signed a cooperation agreement with Ripple to establish new channels for inward remittances.
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Hong Kong-based blockchain remittance startup Bitspark has abruptly announced its closure, citing internal restructuring issues.
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Thai Stellar-based blockchain startup Lightnet raised $31.2 million in a Series A funding round led by major financial conglomerates in South East Asia.
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The oldest bank in Thailand launches a mobile app powered by Ripple to facilitate fast, low-cost cross-border payments.
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