Trade finance firm Afreximbank has allocated $1.5 billion to help Caribbean countries access its services. The Cairo-based company announced the arrangement Monday (Dec. 26), saying it followed the addition of nine Caribbean countries to its Afreximbank Partnership Agreement at the first Africa-Caribbean Trade and Investment...
The African Development Bank Group is supporting the trade finance efforts of Bank One Limited. The Group will provide a $40 million trade finance package that is meant to help Bank One of Mauritius increase its capacity to provide trade finance to small to medium-sized businesses (SMBs), local...
Drip Capital and Vayana TradeXchange have partnered on trade finance services for small to medium-sized exporters. Through this partnership, Drip Capital — which offers post-shipment export financing — will use Vayana’s International Trade Finance Service (ITFS) platform to convert Indian exporters’ trade receivables into cash,...
Iraqi financial app provider Blue now enables users to trade U.S.-listed stocks. The Iraq-based FinTech said in a Friday (Dec. 16) press release that the launch of this latest technology for its Bluepay mobile app comes as the Central Bank in Iraq recently approved Blue to offer international money...
International money transfer company Wise has launched a new savings product. Launched in the U.K. on Thursday (Dec. 15), the new “Interest” product lets Wise Assets customers in the U.K. earn interest on their pounds, euros and dollars. The annual variable yields are 3.29% on...
The digital economy’s capacity to operate in real time across international borders can add layers of complexity to businesses’ commercial opportunities. Digital businesses can launch globally as quickly as they can locally, but they must take the challenges and complexities that come with international payments...
FinTechs are offering an alternative to cumbersome and risky corporate spending processes. And whether it’s freelancers or large enterprises, workers no longer have to go through the hassle of spending their own money, saving receipts and reconciling their bills at a later date to get...
While digitization has transformed the global remittance market, it is far from a one-dimensional process. After all, any money transfer service aiming for global coverage needs to be flexible enough to move money across diverse payment ecosystems and fragmented regulatory landscapes, while meeting the different...
England’s central bank is planning on gauging the resiliency of non-bank financial markets. As one of its most important protective functions, the Bank of England (BoE) runs various stress tests on the U.K.’s banking system to measure its resilience and inform policy measures intended to...