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In October 2017, Stellar partnered with IBM and KlickEx to facilitate cross-border transactions in the South Pacific region. The cross-border payment system developed by IBM includes partnerships with banks in the area. [25] [26] The Lumens digital currency was ranked 13th in market capitalization at the time of the IBM partnership. [27]
Nium is a Singapore-headquartered cross-border payments company. Initially founded by Prajit Nanu and Michael Bermingham, and launched as a consumer-remittance platform Instarem in 2014. In 2016, [2] the company introduced its B2B payments platform [3] and rebranded as Nium in 2019, [4] subsequently elevating Pratik Gandhi to co-founder in 2021.
In 2014, he co-founded the non-profit organization the Stellar Development Foundation with Joyce Kim [17] to develop the Stellar open source protocol to allow cross-border monetary transactions including fiat and digital currencies. [18] [19] The organization debuted on July 31, 2014, and received a $3 million loan from the technology company ...
In September 2021, the Bank for International Settlements (BIS), in collaboration with Thailand, Hong Kong, China, and the UAE, published a report regarding the second phase of the mBridge project, aiming to establish a system involving multiple CBDCs to enable faster, more cost-effective, and efficient methods for conducting cross-border ...
Payment as a platform diagram. Since the 1980s, credit cards and international wire transfer systems like the Society for Worldwide Interbank Financial Telecommunication (SWIFT) [1] have been primary methods for making and receiving electronic cross-border payments. Within individual countries, payers and payees have used various electronic ...
Sphere, a stablecoin company that specializes in cross-border payments, just closed a $5 million funding round led by crypto giants Coinbase Ventures and Kraken Ventures.. Founders Arnold Lee and ...