#CrossBorderPayments

45 articles tagged #CrossBorderPayments — curated RWA tokenization coverage.

#TokenizedDeposits #JPMorgan #Swift #Citi #Kinexys #DBS #Stablecoins #Blockchain #Citigroup #ProjectAgora

N3XT Approved to Launch Cross-Border Tokenized USD Payments

N3XT has received regulatory approval to launch cross-border tokenized USD payments, marking a significant step in the integration of blockchain technology into traditional financial infrastructure. This development allows for the issuance and settlement of digital assets pegged to the U.S. dollar, facilitating faster and more efficient international transactions. By leveraging blockchain rails, N3XT aims to reduce the friction and high costs typically associated with legacy cross-border payment systems. The approval underscores a growing trend of financial institutions seeking to modernize liquidity management through tokenization. For the RWA market, this move validates the utility of stable-value digital assets in institutional payment flows. As regulatory frameworks continue to evolve, such initiatives provide a blueprint for compliant, scalable cross-border settlements. This milestone highlights the increasing convergence between regulated financial services and decentralized ledger technology.

#RWA #CrossBorderPayments #N3XT

ababnews.comAdded: Aug 18, 20266.5

Stablecoins

SBI and Nodeinfra Sign Deal to Bypass Dollar in Japan-Korea Trade via Canton Network

Japan's SBI Digital Practice and South Korea's Nodeinfra have launched Project Musubi, an initiative to establish a direct blockchain-based settlement corridor for yen and won trades. By utilizing the Canton Network's atomic payment-versus-payment architecture, the project aims to eliminate the need for US dollar intermediaries, which currently impose significant conversion fees and settlement delays on cross-border transactions. The current correspondent banking model forces trades through multiple hops, incurring costs of $15 to $30 per intermediary and foreign exchange markups of up to 3 percent. Furthermore, the project addresses Herstatt risk by ensuring simultaneous finality, where the yen and won legs of a transaction settle at the exact same moment or not at all. While the technical infrastructure is being built using Daml smart contracts, the commercial viability of the project depends on South Korea's National Assembly passing the Digital Asset Basic Act to authorize regulated won-denominated stablecoins. SBI Digital Practice is leveraging its role as a Canton Network Super Validator to integrate Japanese financial systems, while Nodeinfra manages the development of the settlement protocol for Korean institutions. This initiative represents a significant shift toward institutional-grade, blockchain-native cross-border payments that bypass traditional correspondent banking structures.

#Stablecoins #CantonNetwork #CrossBorderPayments

techtimes.comAdded: Aug 12, 20268.5

Stablecoins

South Africa plans exchange controls for offshore crypto, stablecoin flows

The South African Reserve Bank’s Financial Surveillance division has released draft regulations aimed at integrating cryptocurrencies and stablecoins into the nation's existing exchange control framework. The proposed rules impose strict limitations on offshore transfers, including a ban on companies using digital assets for international payments or receipts and a prohibition on inbound transfers from self-hosted wallets. For individuals, crypto transactions are now subject to standard exchange control limits, requiring reporting by licensed Crypto Asset Service Providers (CASPs). Remittance services are capped at R5,000 daily or R25,000 monthly, while broader asset transfers are restricted to annual limits of R2 million or R10 million for tax-compliant users. These measures follow conflicting court rulings regarding whether cryptocurrencies qualify as legal currencies under current exchange control laws. By formalizing these requirements, the Treasury seeks to eliminate legal ambiguity and exert regulatory oversight over the flow of digital assets across borders. This development is significant for the RWA market as it clarifies the compliance landscape for stablecoin-based cross-border payments and institutional adoption in South Africa.

#Stablecoins #CrossBorderPayments #Regulation

Ledger InsightsAdded: Aug 11, 20267.5

Stablecoins

Tokenized Dollars Enable Cross-Border Transfers Even on U.S. Holidays

Citigroup has launched Citi Token Services (CTS), a platform that enables corporate clients to execute cross-border payments using deposit tokens without requiring knowledge of blockchain technology. By converting deposits into tokens, the system facilitates real-time settlement that bypasses traditional banking hours, holidays, and intermediary bank delays. This infrastructure allows companies to optimize liquidity management by moving funds instantly to overseas subsidiaries, even when US financial markets are closed. The service successfully operated during the July 4th US Independence Day holiday, demonstrating its ability to function independently of traditional banking schedules. Citi is currently in discussions with Korean financial institutions to expand these services, highlighting the competitive pressure on local firms to modernize their payment infrastructure. This development is part of a broader Wall Street trend, alongside initiatives from JPMorgan and BlackRock, to move traditional assets like deposits and Treasurys onto blockchain networks. The shift toward on-chain finance is viewed as a critical evolution in financial plumbing, enabling real-time risk calculation and supporting the future integration of AI-driven trading agents.

#CrossBorderPayments #Citigroup #LiquidityManagement

en.sedaily.comAdded: Aug 11, 20268.5

Infrastructure

Dukhan Bank And J.P. Morgan Announces Dukhan Bank Goes Live On Kinexys Blockchain Deposit Account Network

Dukhan Bank has officially joined the Kinexys Digital Asset network, formerly known as Onyx, developed by J.P. Morgan. By integrating with the Kinexys blockchain-based deposit account system, the Qatari bank aims to enhance its cross-border payment capabilities and liquidity management. This move allows Dukhan Bank to leverage programmable payments and real-time settlement features inherent in the Kinexys infrastructure. The collaboration marks a significant step in the adoption of institutional blockchain solutions within the Middle Eastern banking sector. By utilizing this network, the bank can streamline complex international transactions while reducing the friction typically associated with traditional correspondent banking. This development underscores the growing trend of major financial institutions adopting private, permissioned ledgers to modernize legacy financial plumbing. Ultimately, the integration signals a broader shift toward tokenized deposit accounts as a foundational layer for future digital asset interoperability in global finance.

#JPMorgan #Kinexys #CrossBorderPayments

marketscreener.comAdded: Aug 10, 20267.5

Infrastructure

Citi Deposit Tokens Surpass $1 Billion in Daily Settlements, Accelerating Wall Street's On-Chain Shift

Citigroup’s blockchain-based deposit token service, Citi Token Services (CTS), has reached a milestone by processing over $1 billion in daily transaction volume across five global markets. By converting traditional bank deposits into digital tokens on a private blockchain, the service enables real-time, 24/7 cross-border settlements that bypass the limitations of traditional banking hours and intermediary delays. This infrastructure allows global corporations to optimize liquidity management by eliminating the need to pre-position cash in regional subsidiary accounts. Unlike stablecoins backed by external reserves, CTS tokens are direct representations of bank deposits, maintaining the security and regulatory framework of traditional banking. The platform is currently utilized by major entities, including members of the Intercontinental Exchange and fintech firm Payoneer, to handle urgent funding needs and margin calls. This development represents a significant shift toward on-chain finance, where major institutions like Citi and JPMorgan are modernizing financial plumbing to support automated, programmable settlements. As global finance moves toward a 'token-dollar' system, Citi plans to expand the service to additional currencies and markets to further enhance capital efficiency.

#CrossBorderPayments #Citigroup #LiquidityManagement

finance.biggo.comAdded: Aug 9, 20268.5

Infrastructure

Dukhan Bank Becomes Qatar’s First Islamic Bank to Go Live on Kinexys - Fana News -

Dukhan Bank has officially integrated with Kinexys by J.P. Morgan, becoming the first Islamic bank in Qatar to utilize the Blockchain Deposit Account network. This implementation enables the bank to provide corporate and institutional clients with 24/7 real-time cross-border payments, moving away from traditional settlement delays. By leveraging distributed ledger technology, the bank aims to enhance liquidity management and transparency for its global treasury operations. The move represents a significant milestone in the digital transformation of Islamic finance, aligning modern blockchain infrastructure with Sharia-compliant financial principles. Kinexys, J.P. Morgan’s blockchain unit, now supports eight of the largest banks in the Middle East through this network. This adoption underscores the broader trend of traditional financial institutions adopting programmable payment rails to improve efficiency and settlement speed. Ultimately, the integration highlights how blockchain-based infrastructure is becoming a standard requirement for banks seeking to remain competitive in the global treasury market.

#JPMorgan #Kinexys #CrossBorderPayments

fananews.comAdded: Aug 4, 20267.5

Infrastructure

Citi launches trade digitisation solution, Lloyds tests tokenised cross-border payments through Project Agorá

Lloyds Banking Group has successfully completed three live tokenised-deposit transactions as part of Project Agorá, a collaborative initiative convened by the Bank for International Settlements and the Institute of International Finance. This project involves seven central banks and over 40 major financial institutions, including Citi, HSBC, and JPMorgan, aiming to integrate tokenised commercial-bank deposits with central-bank reserves. During recent testing, 28 institutions executed 17 scenarios totaling approximately $1 million, achieving an average settlement time of 80 seconds. This development is significant for the RWA market as it demonstrates the potential for tokenised assets to streamline wholesale cross-border payments by enabling simultaneous settlement of different currency legs. By reducing settlement risk and timing inefficiencies, Project Agorá provides a scalable framework for institutional adoption of blockchain-based financial infrastructure. The successful execution of these transactions highlights the growing momentum among global banks to transition from traditional payment rails to tokenised, programmable settlement systems. This shift is critical for the future of RWA tokenization, as it establishes the necessary plumbing for high-value, multi-currency asset transfers on distributed ledgers.

#InstitutionalDeFi #CrossBorderPayments #ProjectAgora

theasianbanker.comAdded: Aug 4, 20268.5

Infrastructure

JPMorgan, Citi, UBS and Central Banks Wrap Up Real-Value Trials of Tokenized Cross-Border Payments in Project Agorá

Project Agorá, an initiative led by the Bank for International Settlements Innovation Hub, has successfully concluded real-value testing of tokenized cross-border payments. The trials involved 28 public and private entities, including major global institutions like JPMorgan, Citi, and UBS, alongside five central banks. Participants executed approximately 30 transactions totaling CHF 800,000 across six currencies, including the US dollar, euro, and Japanese yen. By utilizing a shared programmable ledger, the project demonstrated atomic settlement, which eliminates settlement risk by ensuring all asset transfers complete simultaneously. The average settlement time was reduced to 80 seconds, significantly faster than traditional cross-border payment methods. This milestone proves that tokenized commercial bank deposits and central bank reserves can function effectively within a unified, secure infrastructure. The successful execution of these trials highlights the potential for tokenization to modernize global wholesale finance by increasing transparency and reducing operational friction. This development marks a critical step toward institutional adoption of blockchain-based payment systems that maintain the safety of central bank-backed assets.

#CrossBorderPayments #TokenizedDeposits #BIS

crowdfundinsider.comAdded: Aug 3, 20269.5

Infrastructure

Dukhan Bank becomes Qatar’s 1st Islamic bank to go live on Kinexys blockchain network | Gulf Times

Dukhan Bank has officially integrated with Kinexys by J.P. Morgan, becoming the first Islamic bank in Qatar to utilize the blockchain-based deposit account network. This implementation allows the bank to offer corporate and institutional clients 24/7 real-time cross-border payments, bypassing the limitations of traditional banking hours. By leveraging distributed ledger technology, the bank aims to enhance liquidity management and provide near-instant settlement for global treasury requirements. The move signifies a broader trend of Middle Eastern financial institutions adopting blockchain infrastructure to modernize payment rails while maintaining Sharia-compliant standards. Kinexys, J.P. Morgan’s dedicated blockchain unit, now supports eight of the region's largest banks, highlighting the rapid institutional adoption of tokenized deposit networks. This development is critical for the RWA market as it demonstrates how traditional banking assets and payment flows are being migrated onto programmable blockchain rails. Ultimately, the partnership underscores the growing synergy between Islamic finance principles and the efficiency of decentralized financial infrastructure.

#JPMorgan #Kinexys #CrossBorderPayments

gulf-times.comAdded: Aug 3, 20267.5

Infrastructure

JPMorgan, Citi, UBS Testing Tokenized Cross-Border Payments

JPMorgan, Citi, and UBS are among 28 global financial institutions that successfully completed a live pilot of Project Agorá, a blockchain-based platform for cross-border payments. The test processed approximately $1 million in real-value transactions across six major currencies, including the U.S. dollar, euro, and Japanese yen. By utilizing tokenized commercial bank deposits alongside tokenized central bank reserves, the participants achieved an average settlement time of just 80 seconds. This initiative demonstrates the potential for atomic, multi-currency settlement that operates on a 24/7 basis, significantly outperforming traditional payment rails. The platform integrates smart contracts to embed compliance and workflow logic directly into transactions, effectively reducing manual reconciliation and operational friction. By enabling simultaneous foreign exchange settlement, the project also mitigates counterparty risk inherent in current sequential payment systems. This milestone represents a critical step toward modernizing wholesale banking infrastructure through the integration of programmable, tokenized assets.

#JPMorgan #CrossBorderPayments #TokenizedDeposits

watcher.guruAdded: Jul 31, 20269.5

Infrastructure

South Korea's Largest Bank Accesses Kinexys for Cross-Border USD Payments

KB Kookmin Bank, the largest bank in South Korea, has successfully completed a pilot transaction using JPMorgan’s Kinexys Digital Asset platform to facilitate cross-border USD payments. This initiative marks a significant step in integrating traditional banking infrastructure with blockchain-based settlement systems to enhance efficiency and reduce transaction times. By leveraging Kinexys, formerly known as Onyx, the bank aims to streamline international fund transfers that typically face delays in legacy correspondent banking networks. The successful test demonstrates the growing institutional appetite for programmable money and real-time settlement solutions within the global financial sector. This development is particularly notable for the RWA market as it highlights how major financial institutions are adopting distributed ledger technology to tokenize and move liquidity across borders. As South Korea continues to explore digital asset frameworks, this collaboration underscores the shift toward institutional-grade blockchain rails for sovereign currency settlement. The integration of Kinexys by a Tier-1 Asian bank signals a broader trend of global financial giants standardizing tokenized payment infrastructure.

#Tokenization #JPMorgan #Kinexys

ababnews.comAdded: Jul 26, 20267.5

Infrastructure

KB Kookmin Bank Launches Remittance Service Using JPMorgan's Kinexys

KB Kookmin Bank has officially launched a cross-border remittance service leveraging JPMorgan's Kinexys, formerly known as the Onyx Digital Assets platform. This integration allows the South Korean bank to utilize blockchain-based settlement rails to facilitate faster and more transparent international transactions. By adopting Kinexys, KB Kookmin Bank aims to reduce the friction typically associated with traditional correspondent banking networks, which often suffer from delays and high intermediary costs. This development marks a significant milestone for the South Korean financial sector as it embraces institutional-grade blockchain infrastructure for real-world financial operations. The move highlights the growing trend of major global banks integrating private, permissioned ledgers to modernize legacy payment systems. For the broader RWA market, this partnership underscores the increasing utility of tokenized deposit and settlement layers in streamlining global liquidity. As more Tier-1 institutions adopt these blockchain-based rails, the infrastructure for tokenized assets continues to mature, paving the way for broader adoption of programmable money in institutional finance.

#JPMorgan #Kinexys #CrossBorderPayments

en.sedaily.comAdded: Jul 26, 20268.0

Infrastructure

Emirates NBD goes live on Partior DLT settlement network

Emirates NBD has officially joined the Partior DLT-based clearing and settlement network, marking the first instance of a MENAT region bank participating in the platform. This integration follows a preliminary exploration phase announced in November 2024 and represents the first stage of a broader strategic rollout. While initial plans suggested the bank would act as a settlement provider for UAE Dirham, Saudi Riyal, and Indian Rupee, the current deployment focuses on USD-denominated transactions. JP Morgan facilitated the inaugural transaction, serving as both the settlement and beneficiary bank for Emirates NBD’s corporate and institutional clients. By leveraging Partior’s blockchain infrastructure, the bank aims to modernize cross-border payments and eventually expand its capabilities to include multi-currency support and broader interbank connectivity. This development is significant for the RWA and institutional finance sectors as it demonstrates the growing adoption of DLT for streamlining correspondent banking processes. The move highlights the shift toward programmable settlement layers that reduce friction in international liquidity management.

#CrossBorderPayments #InstitutionalFinance #DLT

Ledger InsightsAdded: Jul 14, 20267.5

Infrastructure

SCB debuts Citi's 24/7 USD Clearing and Citi Token Services solution

Standard Chartered Bank (SCB) has officially integrated Citi’s 24/7 USD Clearing and Citi Token Services to enhance its cross-border payment capabilities. This collaboration allows SCB to leverage Citi’s institutional-grade blockchain-based solution, enabling near-instantaneous settlement of USD transactions around the clock. By utilizing Citi Token Services, SCB can facilitate programmable financial services and automated liquidity management, moving away from traditional batch-processing limitations. This integration marks a significant milestone for the RWA market as it demonstrates how major global banks are adopting tokenized deposits to improve operational efficiency and capital velocity. The move underscores a broader industry shift toward interoperable blockchain infrastructure for institutional treasury management. As traditional banking giants adopt these tokenized solutions, the friction associated with legacy correspondent banking networks is substantially reduced. This development signals increased institutional confidence in private, permissioned ledgers for high-value settlement processes.

#CrossBorderPayments #TokenizedDeposits #Citi

fintechfutures.comAdded: Jul 14, 20268.5

Infrastructure

Does Citi’s Tokenized USD Clearing Breakthrough Deepen the Digital Transformation Narrative for Citigroup (C)?

The Siam Commercial Bank has become the first client to utilize Citigroup's integrated 24/7 USD Clearing and Citi Token Services, marking a significant milestone in institutional digital finance. By leveraging a private blockchain to facilitate tokenized deposits, the initiative enables continuous cross-border payments across more than 50 markets. This development serves as a strategic response by Citigroup to competitive pressures from fintech firms and stablecoins, aiming to maintain its dominance in global institutional transaction flows. While the technology promises to enhance efficiency and support resilient fee income, Citigroup faces ongoing challenges related to high transformation and regulatory compliance costs. The bank projects reaching $102.4 billion in revenue and $21.7 billion in earnings by 2029, contingent on the successful scaling of these digital infrastructure investments. This move aligns with broader industry efforts, such as the tokenized deposit network planned by The Clearing House, to modernize legacy banking systems. Ultimately, the success of this deployment will determine whether Citi can effectively translate its digital overhaul into improved long-term profitability for shareholders.

#Blockchain #CrossBorderPayments #TokenizedDeposits

finance.yahoo.comAdded: Jul 13, 20268.5

Infrastructure

Swift's Blockchain Ledger Goes Live With Tokenized Deposit Pilot Across 17 Banks

Swift has officially launched a live pilot of its blockchain-based shared ledger, enabling 17 global banks across six continents to test cross-border payments using tokenized deposits. Participating institutions include major players such as Citi, HSBC, UBS, BNY, and Wells Fargo, marking a significant transition from development to production-ready infrastructure. This system allows for the movement of tokenized commercial bank money outside of traditional banking hours, including weekends and overnight, without replacing existing settlement rails. By maintaining established compliance and control frameworks, Swift aims to provide a regulated alternative to stablecoin-based payment solutions. The initiative addresses the growing demand for 24/7 liquidity management and improved corporate cross-border payment experiences. This development is critical for the RWA market as it establishes a connective layer that integrates with multiple blockchains while preserving the security of traditional finance. The success of this pilot will serve as a key indicator for the future scalability of institutional tokenized value transfers.

#Blockchain #CrossBorderPayments #TokenizedDeposits

newswav.comAdded: Jul 13, 20269.0

Infrastructure

SCB taps Citi for tokenised cross-border payments

Siam Commercial Bank (SCB) has partnered with Citi to pilot a tokenized cross-border payment solution aimed at enhancing the efficiency of international fund transfers. By leveraging Citi’s digital asset capabilities, SCB intends to streamline liquidity management and reduce the settlement times typically associated with traditional correspondent banking networks. This initiative utilizes blockchain technology to facilitate near-instantaneous, 24/7 cross-border transactions, addressing long-standing friction in global financial infrastructure. The collaboration marks a significant step for SCB in integrating programmable money into its institutional treasury operations. For the broader RWA market, this development underscores the growing institutional appetite for tokenized deposits and programmable settlement layers. As major banks like Citi continue to provide the underlying infrastructure for these digital assets, the barrier to entry for cross-border tokenized settlements is rapidly lowering. This shift signals a transition toward a more interconnected, blockchain-based global payment ecosystem that prioritizes speed and transparency.

#Blockchain #CrossBorderPayments #TokenizedDeposits

ibsintelligence.comAdded: Jul 10, 20267.5

#CrossBorderPayments

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