The Bank for International Settlements reported Project Agorá completed $1 million in real-value cross-border payment trials, with 28 financial institutions settling transactions across six currencies in about 80 seconds.
SWIFT has launched a blockchain-based shared ledger enabling 17 banks across six continents to pilot cross-border payments using tokenized deposits, marking the payment network's first live use of distributed ledger technology for 24/7 banking.
MoneyGram launched MGUSD, a U.S. dollar-backed stablecoin on the Stellar blockchain, issued by Stripe-owned Bridge. The stablecoin will power services across MoneyGram's global network of 60 million customers and 500,000 retail locations.
KBank, South Korea's largest digital bank, is testing blockchain-based overseas remittances using Ripple's Palisade wallet software. The first phase of the proof-of-concept has been completed, with the system designed for high-speed global transfers.
