UniPass: Comprehensive Stablecoin Payment Solution’s Post

TradFi & DeFi Integration: How Stablecoins Are Revolutionizing Cross-Border Payments! With an encouraging pro-crypto regime coming in next year, I’m reposting an article from Finextra, "Powering the Next Era of Cross-Border Payments: Stablecoins' Role Alongside Traditional Currencies," highlights the transformative role of stablecoins in enhancing cross-border payments. Looking forward to seeing Hong Kong capitalise on this great opportunity to integrate TradFi and Defi. #Cost_Effectiveness: Stablecoins are reducing transaction costs by up to 80% and speeding up settlements to mere minutes, compared to the days or weeks required by traditional banking methods. #RealTime_Visibility: Blockchain technology provides real-time payment visibility, boosting transparency and trust in international transactions. #Approach: Combining stablecoins with traditional currencies offers the best of both worlds, ensuring faster and cheaper transactions while maintaining regulatory compliance. #Implications: As stablecoins gain traction, businesses must navigate regulatory uncertainties and potential volatility. A holistic approach to integrating traditional and cryptocurrency payment systems is essential. #Outlook: Stablecoins are poised to become a standard tool for international transactions, offering a competitive edge in the global economy as regulatory frameworks evolve. How do you see stablecoins impacting the future of cross-border payments in your industry? Are there any specific challenges or opportunities you foresee in adopting this technology? #Stablecoins #Crypto #CrossBorderPayments

𝗝𝗮𝗽𝗮𝗻'𝘀 𝗠𝗮𝗷𝗼𝗿 𝗕𝗮𝗻𝗸𝘀 𝗟𝗲𝘃𝗲𝗿𝗮𝗴𝗲 𝗦𝗪𝗜𝗙𝗧 𝗮𝗻𝗱 𝗕𝗹𝗼𝗰𝗸𝗰𝗵𝗮𝗶𝗻 𝗳𝗼𝗿 𝗜𝗻𝘀𝘁𝗮𝗻𝘁 𝗣𝗮𝘆𝗺𝗲𝗻𝘁𝘀 🔹 𝗕𝗹𝗼𝗰𝗸𝗰𝗵𝗮𝗶𝗻-𝗣𝗼𝘄𝗲𝗿𝗲𝗱 𝗜𝗻𝘁𝗲𝗿𝗻𝗮𝘁𝗶𝗼𝗻𝗮𝗹 𝗧𝗿𝗮𝗻𝘀𝗳𝗲𝗿𝘀: MUFG (Mitsubishi Financial Group), Mizuho Financial Group, and Sumitomo Mitsui Financial Group are collaborating on a blockchain framework for instant cross-border payments using stablecoins. 🔹 𝗦𝘁𝗮𝗯𝗹𝗲𝗰𝗼𝗶𝗻𝘀 𝗳𝗼𝗿 𝗦𝗽𝗲𝗲𝗱 𝗮𝗻𝗱 𝗘𝗳𝗳𝗶𝗰𝗶𝗲𝗻𝗰𝘆: The integration of stablecoins tied to various currencies will enable transactions in under a second, dramatically reducing costs and time compared to the traditional SWIFT system. 🔹 𝗖𝗼𝗿𝗽𝗼𝗿𝗮𝘁𝗲-𝗙𝗼𝗰𝘂𝘀𝗲𝗱 𝗦𝗼𝗹𝘂𝘁𝗶𝗼𝗻: This initiative, aimed primarily at corporate transactions, involves collaboration with over 10 domestic and international lenders, marking a significant move towards blockchain adoption in banking. 🔹 𝗕𝗿𝗶𝗱𝗴𝗶𝗻𝗴 𝗧𝗿𝗮𝗱𝗶𝘁𝗶𝗼𝗻𝗮𝗹 𝗦𝘆𝘀𝘁𝗲𝗺𝘀 𝘄𝗶𝘁𝗵 𝗕𝗹𝗼𝗰𝗸𝗰𝗵𝗮𝗶𝗻: By leveraging SWIFT infrastructure, the banks avoid major new investments while preparing for broader blockchain adoption, positioning themselves for growth in the projected $182 trillion cross-border payments market. Source: https://lnkd.in/ekx95sAJ For more weekly insight and thought-provoking analysis, ensure you get your copy at 𝗗𝗶𝗴𝗶𝘁𝗮𝗹 𝗕𝘆𝘁𝗲𝘀: https://lnkd.in/ev-WMFzG. Make sure you sign up to get your weekly analysis. #Blockchain #Stablecoins #CrossBorderPayments #Japan #Fintech #Innovation

Rise of decentralised finance (DeFi): A new frontier for fintech in India Broadridge Broadridge India DeFi is not just a buzzword—it is here and rapidly growing. Across the globe, people are using DeFi for loans, investments, and even to earn interest on their savings. Believed to be the industrial revolution of our time, it aims to transform traditional finance through technology, promote financial inclusion, and democratise access at a time. Rise of DeFi in India and its future, DeFi provides more transparency, programmability, elimination of middlemen, accessibility, and inclusivity than traditional banking systems #defi #fintech #digitalpayments #blockchain Kishore Seshagiri Ashfaq Ahmed FSV Capital FSV Labs https://lnkd.in/drj52fKm

🚀 Exciting news from JUST Finance! 🚀 We've launched a Multi-Currency Stablecoin Exchange in collaboration with UBX and a consortium of Philippine banks, set to transform cross-border payments and FX using stablecoins. 💸 A huge step forward in accessible, efficient global finance! 💲 #blockchain #fintech #stablecoins #crossborderpayments

Is UAE and rest of the world playing catch up or not at all? China launched v2 of its Blockchain based Trade Finance Solution back in 2019 and is still going strong. In 2014 they have extended their offerings by incorporating Internet of Things & Big Data to connect government departments, owners, general contractors, labor companies, migrant workers, and employment management platforms, and to open up the industrial chain. It uses the traceability and anti-tampering characteristics of blockchain to effectively solve the authenticity of trade background. The wider global market remain oblivious to these facts since this is not published in any outlet outside of Chinese media. The only instantly consumable information dates back to Oct 2019. You can however find tonnes of information if you look into the Chinese websites. Do banks and financial institutes need to step up their game? They certainly do need to, not just for competition sake but to realize millions of dollars in profits lost to inefficiencies. I am working on how financial institutes can streamline processes and remove inefficiencies to increase profits many folds! #fintech #blockchain #Scytalelabs https://lnkd.in/duErnu7Y

"Stablecoins could account for 10% of “global economic money” over the next ten years or more, according to stablecoin issuer Circle CEO Jeremy Allaire. It’s arguably a bold claim, but Allaire pointed to several factors that could trigger an exponential expansion in stablecoin adoption over the next “10+ years.” “Most of the world’s largest payments companies are actively using this technology and exploring how to expand their usage as the benefits of public chains and stablecoins become apparent to everyone,” Allaire explained in a June 19 X post. The addressable market size is in the “billions,” and unleashing digital dollars on blockchains can fulfill the promise of banking the unbanked, lowering remittance costs and allowing seamless cross-border commerce, said Allaire." #crypto #cryptoadoption #stablecoins #cryptoassets #digitalassets

🚀 The Future of Cross-Border Payments: How Stablecoins are Revolutionizing the Industry 🌍 Exciting developments are on the horizon for cross-border payments, thanks to the rise of stablecoins. Traditional methods, often hindered by lengthy processing times and high fees, are being outpaced by this innovative technology. Here’s why stablecoins are a game-changer: 1. Speed: Unlike conventional banking and SWIFT networks, stablecoins facilitate near-instantaneous transactions across borders, slashing waiting times from days to minutes. 2. Cost: With lower transaction fees compared to traditional systems, stablecoins provide a cost-effective alternative for global money transfers, making them a preferred choice for businesses and individuals alike. 3. Transparency and Security: Built on blockchain technology, stablecoin transactions are highly secure and offer greater transparency. This reduces the risk of fraud and enhances trust in the payment process. 4. Financial Inclusion: By simplifying cross-border payments, stablecoins can open doors to financial services for underserved populations, driving greater inclusivity in the global economy. Stablecoins represent a significant leap forward, aligning with the evolving demands for efficiency and cost-effectiveness in international finance. As we continue to embrace these advancements, it’s clear that stablecoins are not just an alternative but a superior solution for cross-border payments. 🔗 Read more about how stablecoins are transforming the payments landscape: https://lnkd.in/gn3M295g #Fintech #Stablecoins #Blockchain #CrossBorderPayments #Innovation

In this week's Digital Bytes we look at The Future of Money. The emergence of stablecoins, backed by major players such as PayPal and Ripple, marks a significant shift in digital payments. However, this expansion coincides with global de-dollarization and increased regulatory scrutiny. Whilst stablecoins offer faster transactions and innovation, they face challenges of stability and regulatory complexity. The future of stablecoins hinges on finding a balance between regulation and innovation to shape the evolving digital finance landscape..https://lnkd.in/ewH3xRYu Efi Pylarinou Antony Abell Helen Disney Lavinia D. Osbourne Thomas Power Beth "Badger" Clemens James Tylee

In a twist of fate or perhaps a calculated move, PayPal(페이팔) announced(https://lnkd.in/gA-6SfSV) the expansion of its stablecoin, PYUSD, just a day after BIS(Bank for International Settlements – BIS) unveiled Project Agora(https://lnkd.in/gvafk4xx). This rapid succession of events has cast a spotlight on the intricate relationship between central bank digital currencies (CBDCs) and global stablecoins. Both CBDCs and stablecoins aim to revolutionize cross-border payments, but their fundamentally different approaches have placed them in a delicate balance of competition and coexistence. The recent dialogue between Bank of Korea Governor Chang-yong Rhee and BIS General Manager Agustín Carstens (https://lnkd.in/gWxY64zK) highlights the complex dynamics between private sector stablecoins and central bank-issued digital currencies. In this dance of titans, the steps of Project Agora and PYUSD intertwine, their movements shaping the future of digital payments. As each player expands its sphere of influence, the world watches with bated breath, wondering what new rhythms will emerge from the interaction between CBDCs and stablecoins. Will they find harmony in collaboration, or will their inherent differences lead to a crescendo of competition? As the music of innovation plays on, it is clear that the roles of central banks and private entities in the digital payment space will continue to evolve. Establishing an appropriate legal and regulatory framework will be crucial in fostering innovation while maintaining stability and protecting consumers. The future of money will depend on how well we can orchestrate this delicate balance. #ProjectAgora #BIS #PYUSD #CBDCs #Stablecoins #DigitalPayments