Singapore Regulator Recognizes Potential of Blockchain for Cross-Border Payments

Sopnendu Mohanty, Chief Fintech Officer of the Monetary Authority of Singapore (MAS), said that blockchain has potential for cross-border payments but the agency “does not see much” in retail bank digital currencies. Mohanty delivered his comments at the Blockchain in Business event at the Massachusetts Institute of Technology on May 2.

Mohanty revealed that back in 2016,

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Coinbase Expands Into Cross-Border Payments

American major cryptocurrency exchange Coinbase has expanded into cross-border payments. Coinbase revealed the development in an announcement on March 28.

Coinbase customers can now transfer funds to any user with a Coinbase account around the world using Ripple (XRP) and the exchange’s stablecoin USDCoin (USDC) with no fee. The development reportedly enables users to send and receive money instantly,

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Major Private Indian Bank Partners With Ripple for Cross-Border Remittances

India’s Federal Bank, a commercial private bank, has partnered with Ripple to use its network for cross-border remittances. The bank announced the development in a letter on March 28.

The partnership with Ripple comes as part of a wider initiative to apply new technologies to the bank’s remittances network. Also on March 28,

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Uber’s Largest Shareholder to Launch Cross-Carrier Mobile Payments Service Based on Blockchain and RCS

Japanese tech giant SoftBank is developing a blockchain-powered cross-carrier mobile payments service, the company reported in an official press release published September 12.

SoftBank’s new proof-of-concept (PoC) development was announced in partnership with telecoms-focused blockchain firm TBCASoft and Synchronoss Technologies, provider of cloud, messaging, digital, and Internet of Things (IoT) services and platforms.

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Singapore: Gov’t Owned CrimsonLogic Launches Global Cross-Border Blockchain Platform

Singapore e-government service provider CrimsonLogic has unveiled its cross-border blockchain network for global trade, according to a July 18 press release.

Dubbed the Open Trade Blockchain (OTB), the platform is principally designed to boost the efficiency of trade corridors between China and the Association of Southeast Asian Nations (ASEAN) nations.

Various operators have already signed up to join OTB,

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