Partior, the blockchain-based clearing/settlement platform backed by JPMorgan and the government of Singapore, has begun supporting cross-border payments. According to Forkast, Partior carried out end-to-end settlements with participating banks recently involving both U.S. and Singapore dollars in under two minutes, a drastic reduction from the...
Remittances to Mexico from the U.S. are seeing new highs, hitting a record $4.54 billion in July, Bloomberg reported. The massive increase was driven by both strong growth and the U.S. government’s stimulus funds. Mexico President Andres Manuel Lopez Obrador has publicly said U.S.-residing Mexicans...
Melbourne, Australia-based FinTech Airwallex announced in a press release it will operate under newly-approved licenses in the United States — the first North American country in which it has a presence. The company, which specializes in cross-border payments, also stated in the release that it...
RippleNet, Ripple’s global financial network, announced on Wednesday (Aug. 11) a third addition to its list of financial institutions (FIs) and money transfer companies in South Korea — Global Money Express (GME Remittance) — after partnerships with CROSS ENF and Sentbe. The partnership with RippleNet...
The pandemic wasn’t enough to completely dampen global remittance flows, according to a press release from the World Bank. A total of $540 billion in remittances was sent to low- to middle-income nations in 2020, which was 1.6 percent lower than 2019’s total and a...
Mexican workers abroad sent a record amount of money back to their home country in March, with remittances reaching $4.15 billion, Bloomberg reported. That amount was aided by the U.S. stimulus checks from the $1.9 trillion package signed by President Joe Biden earlier this year....
Remittances sent to Mexico saw their biggest increase in February since records started being collected in 1995, Reuters reported. Remittances are a major source of the country’s economy for support for low-income families, according to Reuters. In February, remittances to Mexico totaled $3.174 billion, which...
Visa is preparing to increase the fees it charges on behalf of banks on transactions between the United Kingdom and European Union countries beginning in October, the Financial Times (FT) reported, citing unnamed sources. The fees are called “interchange fees.” Visa also plans to hike...
Mexicans and Mexican-Americans working in the U.S. sent a record sum of money to the southern country despite the staggering blows the U.S. economy took due to the pandemic, The Wall Street Journal reported, citing data from Mexico’s central bank. During the first 11 months...
