News with the tag "remittances"

In a bold move towards technological advancement, Pakistan is setting its sights on blockchain technology to revolutionize its financial infrastructure. With a strong focus on streamlining remittances and fostering Web3 innovation, the nation is taking concrete steps to integrate blockchain into its...

Pakistan, one of the top 10 nations for remittances from abroad, may leverage blockchain technology to streamline the process, Bilal bin Saqib, chief adviser to the finance minister and a member of the recently established Pakistan Crypto Council (PCC), said Monday. Overseas Pakistanis sent over $31...

According to the Reserve Bank of El Salvador, the use of crypto to make remittances to the country has consistently accounted for less than 1% of the total share since October 2024. Adoption of Crypto for Remittances Falters in El Salvador Crypto remittances, one of the main use cases for promoting ...

Binance users have reportedly saved $1.75 billion in remittance costs through $26 billion in crypto transfers between 2022 and 2024. Remittances are financial transfers typically made by migrants sending money to family members in their home countries. Globally, remittance volumes are projected to r...

Philippine banks are collaborating to launch the PHPX stablecoin for real-time remittances, leveraging Hedera’s DLT network and cross-border payment solutions.

The Reserve Central Bank has confirmed that the cryptocurrency usage for remittances in El Salvador is still marginal at best. According to recent data released by the institution, crypto remittances registered a growth of 2.5% between January and August, but still account for just 1% of all the vol...

El Salvador, the first country to adopt Bitcoin as legal tender , is reportedly considering revising its Bitcoin-related laws to secure a $1.3 billion loan from the International Monetary Fund (IMF) . According to the Financial Times , negotiations between President Nayib Bukele and the IMF are expe...

MoneyGram’s services have been offline since Sept. 20, with the firm confirming the outage is due to a cybersecurity incident three days later.

The adoption of cryptocurrency, especially Bitcoin, for remittances has failed to surge in El Salvador, even with the support of President Nayib Bukele’s administration. According to data provided by the Central Reserve Bank, only 1.1% of all remittances sent to the country from January to August 20...

Mastercard and Safaricom have partnered to improve payment acceptance and cross-border remittances in Kenya. The partnership will benefit over 636,000 merchants using M-Pesa and enable them to serve customers globally. This collaboration will provide faster and more reliable payment solutions for Ke...