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...
A surprising divide is emerging as digital wallets cement their status in the United States’ payments ecosystem. While American consumers confidently use these wallets to send and receive money across borders, often at rates that outpace other countries, small to mid-sized businesses (SMBs) are dragging...
Citizens and residents of the United States are the world’s largest remitters of funds to friends, families and employees abroad, with U.S. consumers, often migrants and foreign workers, sending $93 billion to recipients in foreign countries in 2023, the latest World Bank data shows. Increasingly,...
Cross-border payments may sound simple, but their reality is anything but. Cracking the code for sending payments between countries, whether for individuals or businesses, has taken up much of the focus of innovation across payments for at least the past few decades. As the payments...
The European Union reportedly expects most of the U.S. tariffs to remain in place after a Monday (April 14) meeting between EU and United States officials made little progress. The meeting saw the officials remain divided on several trade issues, Bloomberg reported Tuesday (April 15),...