Ant Financial Introduces Low Cost Blockchain Money Transfers for Lucrative Hong Kong Philippines Remittance Channel

Filipino workers in Hong Kong, of which there are more than 180,000, received a potential boost to their finances this week as Jack Ma, the billionaire co-founder of Alibaba, which counts fintech firms Ant Financial and Alipay as subsidiaries, made good on a promise he had made years ago to help his Filipino friends spend less on fees when sending money back home to friends and relatives. Read more

The Week In International Payments; Partnerships Galore, & Currencies Direct Tests Blockchain Solution

It’s been an eventful week in the world of international money transfer. Whilst Trump launches trade wars with Europe, China, Canada, and Mexico (to name a few), which is guaranteed to lead to tricky exchange rate calculations for many businesses (don’t forget to check the latest rates and save up to 80% on fees using The Money Cloud), there has plenty of activity in the consumer international payments market too.

Here’s how the big stories have broken down in the past week or so. Read more

The Best Money Transfer Apps of 2018 So Far…?

Modern technology, and mobile tech especially, is making a multitude of lifestyle services easier to deal with; provided you are up to speed with the latest tap, swipe, scan and track technology, many things, including sending money overseas, can be done faster, easier, and cheaper using apps. Read more

World’s First Blockchain Based Trade Finance Transaction Completed By HSBC Using R3’s Corda

There is nothing unremarkable about a shipment of soybeans from Argentina to Malaysia; nor is it surprising when a transaction of this nature is financed using a letter of credit, issued by one bank, on behalf of the buyer, to another. Read more

Japan’s Mitsubishi Corp & Financial Group To Build International Money Transfer Network Using Ripple’s Distributed Ledger Tech

Mitsubishi Corp and Mitsubishi UFJ Financial Group are the latest major financial institutions to announce they will be launching an international money transfer system built on the blockchain. Specifically, the firms will be using the distributed ledger technology developed by California based Ripple, which has also been trialled by the likes of Western Union, MoneyGram, the Saudi Central Bank, and China’s Lian Lian bank. Read more

“World’s Best Digital Bank” DBS Launches Real Time Cross Border Payments Tracking Using SWIFT gpi

DBS, the Singapore based bank with a network of 280 branches across 18 key markets in Asia, today announced a partnership with bank messaging service SWIFT to use its Global Payments Innovation service (gpi) to offer 200,000 corporate and SME clients increased transaction visibility and speed for their overseas money transfer activities. Read more

Santander Breaks The Mould For Banks With Blockchain Based International Money Transfer Service

The Spanish bank Santander has announced that it is launching an international money transfer service that will run using blockchain technology in an attempt to take on disruptive fintech startups such as TransferWise and Revolut, who have been eating into banks’ share of a market worth an estimated $600bn per annum. Read more

The Best Options For Sending Money To & From India

Last week we revealed that the remittance corridor between the United States and Mexico is the world’s biggest.

World bank data reveals that the US is the largest global sender of remittances, and Mexico the fourth largest receiver; but now let’s consider how to make international money transfers to and from the world’s biggest remittance receiving country: India. Read more

Can Cryptocurrencies Like Bitcoin & Ripple Become The Future of International Money Transfer?

Recently, 2 Money Transfer giants; Western Union, and MoneyGram, began working with the cryptocurrency Ripple.  Ripple is a blockchain based solution that could have been purpose built for the money transfer industry. It is part real-time-gross-settlement (RTGS) operation; a genuine SWIFT payments rival; and part currency exchange mechanism, capable of using its distributed ledger technology to move money across all of the world’s remittance corridors on behalf of businesses, or individuals. Read more

The Bitcoin Phenomenon; Is It A Myth That We Are All Buying The Digital Currency?

This content is sourced and brought to you by The Money Cloud – comparing the best rates for sending money overseas offered by hand-picked, regulated brokers and money transfer agencies.

Most of us have heard of it, but are we buying it? After a rocky first few years, when it was seen as little more than a vehicle for the ill-gotten gains of drug dealers, money launderers and terrorists, bitcoin, the concept, successfully overcame the doubters in 2017, leading to a stunning hike in the price of the digital currency, from less than $1,000 dollars in January, to above $19,500 by the end of December. Read more

What Does 2018 Have In Store For Bitcoin? 5 Bold Predictions

This content is sourced and brought to you by The Money Cloud – comparing the best rates for sending money overseas offered by hand-picked, regulated brokers and money transfer agencies.

Bitcoin has been the talk of the second half of 2017, but can the digital currency continue to exert the same fascination, and the same obscene (to some, to others it’s undervalued!) valuation as we enter a new year?

Try as we might to gaze into our crystal balls, it is very hard to predict what factors may affect the short term price, long term adoption, or medium term public perception of bitcoin, yet these are the very factors upon which the cryprocurrency stands or falls.

Below, we list 5 things that we think could affect bitcoin fortunes in 2018, and examine what the potential fallout might be. Sadly we cannot tell you what the price of one bitcoin will be at this time next year, but the below may help you frame your own thoughts and predictions. Read more

5 Reasons Bitcoin Is On The Up & Up (&Up?)!

Surely it cannot be long now before the rights to “Bitcoin – The Movie” are sold. If recent history is anything to go by, if somebody sold them now at the current bitcoin / dollar exchange rate, for £1 million, by the time of the film’s release they could be worth as much as…well, nobody knows in reality, but nearly everybody has an opinion now.

A movie would also be a great opportunity for the Winklevoss twins to reprise the roles they had in the last movie about entrepreneurs, disruptive products, billionaires and controversy – The Social Network. In this version, however, it looks like the twins could be the stars of the show.

To find out why, plus 4 more reasons to be cheerful about bitcoin, read our 5 reasons below outlining why its perfectly possible that the price of bitcoin which keeps on going up, and up, and up, and down a bit (hard / soft fork?), and then up again – is not finished yet – not, perhaps, by a long shot. Read more

62 Of The Most Insane Facts About Bitcoin – In An Infographic!

This content is sourced and brought to you by The Money Cloud – comparing the best rates for sending money overseas offered by hand-picked, regulated brokers and money transfer agencies.

price of bitcoin moves so fast these days, that no sooner is a new analysis of the sometimes controversial, often entertaining digital currency published, we have to tear the arguments down and rehash the theory to justify the latest surge in price. Read more

In London, Even IMF Chief Christine Lagarde Is Suggesting Digital Currencies Could Be The Future!

This content is brought to you by The Money Cloud – comparing the best rates for sending money overseas offered by hand-picked, regulated brokers and money transfer agencies

When it comes to debating digital currencies, increasingly it seems to be the case that we must ask “whose side are you on?”

Are you a sceptic, like JPMorgan Chase CEO Jamie Dimon, or billionaire hedge fund veteran Ray Dalio, or Nobel prize winning economist Robert Shiller, all of whom have bashed bitcoin recently, calling it a “a fraud”, and “a bubble”?

Or are you a “believer”, like Fidelity CEO Abigail Johnson, or even International Monetary Fund chief and economist Christine Lagarde? Read more