Cross-border

High-volume Coinbase Pro and Prime Clients in Asia and Europe can now easily fund their accounts through cross-border SWIFT wire transfers from non-U.S. financial institution accounts, according to an official post published on The Coinbase Blog on Tuesday.

It’s now officially confirmed that UAE and Saudi Arabia will collaborate and work on a cross-border cryptocurrency, though the actual date and time when this will be done is not known. The crypto is strictly targeting banks not clients.

Different nations cogitate developing their own digital currencies. This isn't a smooth accomplishment since several different aspects need to be considered first. In Saudi Arabia, that new crypto exchanges will be completed in mid next year, as per Mohsen Al Zahrani, Head of SAMA, as reported by Saudi Press Agency on Tuesday. This crypto will have the backing of the Saudi central bank. In spite of that schedule, the working team pushing this project is further assessing the significant impact of such a cryptocurrency.

Saudi Arabia's National Commercial Bank has signed up officially with RippleNet, starting up remittance payment corridors between the KSA and the United States, and other potential Asian markets.

Beyond Cryptos, Blockchain is making waves as a pipeline for transactions. China perhaps is in the news amid degradations on trading. There are several initiatives from financial institutions such as banks in China to use Blockchain technology to exchange assets.

Several financial regulators from various countries around the globe have collaborated to create a new network to batten, encourage growth and development of important financial technologies such as Blockchain technology.

The Governor of Bank of Thailand (BoT), Dr. Veerathai Santiprabhob, said that bank is planning to consider blockchain tech for different applications. He revealed this on July 12 in his speech at Bloomberg ASEAN Business Summit.

IBM-powered blockchain platform has become the media for a number of international transactions conducted by major European banks. Financial operations took place on we.trade during the last five days, with 10 influential companies being involved in the fintech process.

Frederick Smith,  Chairman and Chief Executive Officer of U.S. Logistics giant FedEx, is more zealous on his commitment to clasping blockchain technology as one major way for the long-existing company to maintain its position in a vigorously changing digital world.