crossborder

JPMorgan, Citi, UBS test tokenized cross-border payments in BIS pilot

Some of the world’s biggest banks have completed real cross-border payments using tokenized money in a test led by the Bank for International Settlements (BIS), another sign that tokenization is moving into the plumbing of global finance. Project Agorá, which brings together five central banks… Read More

Brazil’s central bank bans stablecoin and crypto settlement in cross-border payments

3 months ago by Crypto InsightsCrypto

Brazil’s central bank has banned electronic foreign exchange (eFX) providers from using stablecoins, bitcoin or other cryptocurrencies to settle overseas remittances. BCB Resolution No. 561, published April 30, updates rules for eFX, Brazil’s regulated system for digital international payments, purchases, withdrawals and transfers. The rule… Read More