cross-border payments

India, Russia working on digital currency trade settlement, Sberbank CEO says

India and Russia have begun working on a digital currency settlement mechanism for bilateral trade, with the two countries' central banks examining how state-issued currencies could be used for cross-border payments, Sberbank Chief Executive Officer Herman Gref said on Friday…

BNP Paribas, HSBC complete first corporate payment on Swift’s blockchain ledger

BNP Paribas and HSBC have completed the first live corporate treasury payment on Swift's blockchain-based shared ledger, moving funds for Siemens from a euro account in France to a sterling account in the United Kingdom. The cross-currency transaction, announced on…

BRICS nations discuss linking payment systems and CBDCs, RBI governor says

Members of the BRICS bloc are in active discussions about linking their national fast payment systems and central bank digital currencies, Reserve Bank of India Governor Sanjay Malhotra confirmed on Tuesday in Mumbai, marking a step forward in the group's…

Visa and Mastercard race to embed stablecoins into core payment rails

The world's two largest card networks moved aggressively to embed themselves in the stablecoin economy this week, each announcing separate infrastructure deals on August 5 while also joining forces as founding supporters of Circle's new Arc blockchain.

Major banks settle real payments in BIS tokenized money pilot

Some of the world's largest banks have completed real cross-border payments using tokenized money in a live test led by the Bank for International Settlements, marking a concrete step toward blockchain-based settlement infrastructure for global finance.

Ant International raises $1.2B in Series A round

Ant International, the Singapore-headquartered global arm of Jack Ma-backed Ant Group, has completed a Series A financing round of approximately $1.2 billion to fuel its expansion in cross-border payments and artificial intelligence-enabled commerce.

Swift launches blockchain ledger as BRICS Pay eyes September rollout

The race to reshape global cross-border payments is accelerating on two fronts. The BRICS bloc is pushing toward an operational launch of BRICS Pay at the 18th leaders' summit in New Delhi, scheduled for September 12-13, even as SWIFT unveiled…

Swift activates blockchain ledger for 24/7 payments

SWIFT announced on Wednesday that its blockchain-based ledger is ready for initial use, with 17 major banks from six continents preparing to pilot live cross-border payments using tokenized deposits — a move that could reshape how money moves between countries…