Uncertainty is the watchword of the current global macroeconomic environment. Tariffs are being raised, lowered, paused. GDP is slowing, almost no matter where you look. But there are some constants amid the turmoil. Remittances are consistent, as workers around the world send money home to...
China’s central bank is reportedly asking lenders to use more yuan in cross-border transactions. The People’s Bank of China has increased the base ratio for yuan-denominated trade transactions from 25% to 40%, Bloomberg News reported Monday (May 26), citing sources familiar with the matter. Though...
It could soon cost more for migrants in the U.S. to send money back home. As the Financial Times (FT) reported Sunday (May 25), that’s because the tax bill passed by the U.S. House of Representatives last week includes a 3.5% tax on remittance transfers...
Global payment infrastructure firm Trans-Fi has launched a unified platform called BizPay that enables instant, compliant cross-border transactions with more than 250 payment methods across more than 100 countries. BizPay enables businesses and individuals to send and receive money, initiate payouts and accept pay-ins, in minutes, the company...
OpenFX has emerged from stealth and announced that it raised $23 million in initial funding for its real-time cross-border payments platform and settlement network. The platform made its stealth launch in early 2024 and now has an annualized transaction volume of $10 billion, the company said...
Ramp will expand its issuing partnership with Stripe to launch stablecoin-backed corporate cards designed to facilitate cross-border transactions. The combination of stablecoin-backed cards and Ramp’s corporate card and financial operations platform will enable issuance of new card programs in multiple countries at once, Ramp said in...
Saudi Arabia, known for rapid digital transformation, is embracing digital wallets for international payments. A deep dive into the latest data reveals a striking trend. While consumers, particularly younger generations, are embracing digital wallets at a pace that rivals the U.S., many larger, small to...
Tariffs have thrown the global trade order into a new era of fragmentation. On Friday (May 2), Temu stopped shipping products from China directly to the U.S., while just days earlier it was reported that Amazon is looking for steep supplier discounts to offset the impact...
Circle, the FinTech firm behind the USDC stablecoin, said Monday (April 21) that it plans to start rolling out a new cross-border payments network in May. The Circle Payments Network (CPN) will connect financial institutions and enable real-time settlement of cross-border payments using USDC, EURC and other...