Tag Archives: Cross-border Payment

Content related to cross-border payments, remittances, money exchange, stablecoin settlements, and cross-border financial compliance.

Shinhan Bank of South Korea completes Proof-of-Concept (PoC) for stablecoin corporate cross-border remittances: Private channel protects transaction information.
Shinhan Bank of South Korea completes Proof-of-Concept (PoC) for stablecoin corporate cross-border remittances: Private channel protects transaction information.

On September 30, 2026, Shinhan Bank announced the completion of the full-process technical verification of cross-border stablecoin remittances for enterprises based on the Solana private solution. Enterprise customers do not need to directly hold digital asset wallets, and sensitive transaction information is not written to the public blockchain mainnet. The actual service implementation still depends on the maturity of the Korean stablecoin regulatory framework.

30
June
Demonstrating the participation of Japan's three major banks in stablecoin trade settlement, with regulatory support provided by the Financial Services Agency.
Demonstrating the participation of Japan's three major banks in stablecoin trade settlement, with regulatory support provided by the Financial Services Agency.

Japan's Financial Services Agency (FSA) announced its support for a pilot program on stablecoin trade settlement, with six institutions participating: Mizuho Bank, MUFG Bank, Sumitomo Mitsui Banking Corporation, NTT Data, TradeWaltz, and MUFG Trust Bank. The pilot program, launched in September, uses bank approvals to purchase export receivables as a trigger for stablecoin settlement and plans to explore electronic bills of lading and smart contract custody.

29
June
How are records and approvals documented when Hong Kong MSO processes refunds or canceled transactions?

When processing refunds or transaction cancellations, Hong Kong MSOs must maintain a complete record covering all four stages: initiation, approval, execution, and review. This record must include: who initiated the refund, the reason given, who approved it within the specified amount threshold, how the funds were returned to the original payment method, how the system recorded the transaction, and whether reconciliation and independent review were completed. A simple "refund completed" statement is insufficient; instead, a verifiable chain of evidence must be established, linking customer instructions, approval records, fund flow, reconciliation results, and any escalation of issues.

28
June
Japan's Financial Services Agency (FSA) and the central bank are advancing blockchain settlement infrastructure: a 24-hour real-time trading schedule for government bonds and stocks has been implemented.
Japan's Financial Services Agency (FSA) and the central bank are advancing blockchain settlement infrastructure: a 24-hour real-time trading schedule for government bonds and stocks has been implemented.

Japan's Financial Services Agency (FSA), Ministry of Finance, and Bank of Japan (BOJ) will establish a joint research conference in the summer of 2026 to advance next-generation financial settlement infrastructure based on blockchain, aiming to achieve 24-hour instant settlement of government bonds and stocks. The plan is scheduled to be finalized in early 2027 and operational in the early 2030s. With approximately $7 trillion in outstanding Japanese government debt, the accompanying yen stablecoin will be subject to revisions to the Payment Services Act, having a structural impact on licensed institutions in Japan.

27
June
South Korea's six ministries have released a regulatory framework for stablecoins in the Korean won: Issuance requires an FSC license, and foreign companies must establish local branches.
South Korea's six ministries have released a regulatory framework for stablecoins in the Korean won: Issuance requires an FSC license, and foreign companies must establish local branches.

South Korea's Ministry of Strategy and Finance, together with six other ministries including the Financial Services Commission (FSC) and the Bank of Korea (BOK), released a framework roadmap for a stablecoin. Stablecoin issuance will require an FSC license, and foreign companies will need to establish local branches and register. The draft sets a minimum capital requirement of 50 billion won and a 100% reserve coverage requirement.

27
June
UAE-Singapore Stablecoin Cross-Border Payment Pilot: Compliance Framework for Licensed Institutions
UAE-Singapore Stablecoin Cross-Border Payment Pilot: Compliance Framework for Licensed Institutions

The UAE and Singapore are becoming key testing grounds for stablecoin cross-border payments and corporate treasury applications. This article analyzes two compliance paths from the perspectives of licensed institutions and family offices: the UAE Central Bank's stablecoin framework + ADGM issuer licensing and Singapore's MAS stablecoin framework + Payment Services Act. It also outlines the main obstacles to the implementation of the Middle East-Asia stablecoin corridor in terms of compliance, foreign exchange, liquidity, and local fund withdrawals.

25
June
WTO: Fragmented regulation is keeping stablecoins out of international trade, which account for only 3% of global cross-border payments.
WTO: Fragmented regulation is keeping stablecoins out of international trade, which account for only 3% of global cross-border payments.

Juan Marchetti, Director of the Trade in Services and Investment Division of the WTO, stated on September 14, 2026, that the key constraint limiting the adoption of stablecoins in international trade "is not technology, but regulation and the lack of a regulatory framework." A WTO report states that due to regulatory fragmentation, stablecoins currently account for only about 3% of global international payments, and cites an FSB report indicating...

15
June
SWIFT partners with 17 banks to test a 24/7 instant transfer compliance framework for tokenized deposit cross-border payments.
SWIFT partners with 17 banks to test a 24/7 instant transfer compliance framework for tokenized deposit cross-border payments.

SWIFT announced that its blockchain-based shared ledger (Swift Ledger) is now initially available, with 17 banks from six continents piloting 24/7 tokenized deposit cross-border payments. Positioned as an orchestration layer for banks' own ledgers, the final settlement still utilizes existing systems. HSBC, Standard Chartered, Citibank, and others have completed real-world transaction testing, with no compromises made regarding compliance standards.

15
June
When a Hong Kong MSO changes its business location, agency, or online channels, is it necessary to notify Customs in advance?
When a Hong Kong MSO changes its business location, agency, or online channels, is it necessary to notify Customs in advance?

When a Hong Kong MSO changes its place of business, agency, or online channels, it should first determine whether it will affect license information, actual place of business, customer contact, record keeping, agency authority, and online account opening/trading process. If it affects any regulated fact, a change assessment and necessary notification or declaration should be completed before the change is implemented.

28
June
What materials and compliance systems do cross-border payment teams typically need to prepare before applying for a Hong Kong MSO?
What materials and compliance systems do cross-border payment teams typically need to prepare before applying for a Hong Kong MSO?

When dealing with Hong Kong MSO issues, one should first examine whether the business involves remittance, exchange, money change, or cross-border fiat currency receipts and payments. Then, one should verify customer due diligence, source of funds, purpose of payment, transaction monitoring, STR upgrades, and record keeping. One cannot simply look at whether there is a license name.

28
June
Proposed process diagram for cross-border trade settlement of stablecoins by South Korean companies
South Korean firm BDACS and Chungoose plan to jointly build stablecoin-based cross-border trade settlement infrastructure.

BDACS and DevAll Company announced plans to jointly build a stablecoin B2B cross-border settlement infrastructure for South Korean exporters. This article distinguishes between confirmed proposed processes and unverified aspects such as launch, costs, exchange, and regulatory matters.

27
June
After obtaining a Hong Kong MSO license, how are transaction monitoring and suspicious transaction reporting typically implemented?
After obtaining a Hong Kong MSO license, how are transaction monitoring and suspicious transaction reporting typically implemented?

When dealing with Hong Kong MSO issues, one should first examine whether the business involves remittance, exchange, money change, or cross-border fiat currency receipts and payments. Then, one should verify customer due diligence, source of funds, purpose of payment, transaction monitoring, STR upgrades, and record keeping. One cannot simply look at whether there is a license name.

27
June
When Hong Kong money change services integrate online orders, how should store records and system logs be reconciled?
When Hong Kong money change services integrate online orders, how should store records and system logs be reconciled?

When Hong Kong money change services integrate online orders, how should store records and system logs be reconciled? The answer is to link each order, customer due diligence, quotation, payment receipt, exchange or remittance instructions, store delivery, reviewer, and exception handling with the same transaction number, and to reconcile the system, store cash or bank statements, and customer receipts daily.

25
June
Japan's SBI led a $6800 million Series C funding round for Fastet, making the regionally licensed stablecoin bank a unicorn.
Japan's SBI led a $6800 million Series C funding round for Fastet, making the regionally licensed stablecoin bank a unicorn.

SBI Group of Japan led a $6,800 million Series C funding round for Fastet, valuing the company at $10 billion post-money and officially making it a unicorn. The platform boasts an annualized transaction volume exceeding $400 billion, covering 125 countries and holding regional approvals in jurisdictions including the UAE, Indonesia, Malaysia, the EU, Turkey, and Pakistan.

24
June
What materials and compliance systems do cross-border payment teams typically need to prepare before applying for a Hong Kong MSO?
What materials and compliance systems do cross-border payment teams typically need to prepare before applying for a Hong Kong MSO?

When dealing with Hong Kong MSO issues, one should first examine whether the business involves remittance, exchange, money change, or cross-border fiat currency receipts and payments. Then, one should verify customer due diligence, source of funds, purpose of payment, transaction monitoring, STR upgrades, and record keeping. One cannot simply look at whether there is a license name.

18
June
Before the annual review or renewal of a Hong Kong MSO license, what training, independent inspection, and record keeping procedures need to be completed first?
Before the annual review or renewal of a Hong Kong MSO license, what training, independent inspection, and record keeping procedures need to be completed first?

Before undergoing annual review or license renewal, Hong Kong MSOs should prioritize completing three sets of records traceable to specific personnel and dates: training completion and job coverage, independent inspection findings and rectification, and the retention and retrieval testing of customer and transaction records. A complete set of written regulations without evidence of attendance, sampling, review, rectification, and retention generally cannot replace proof of actual control.

17
June
Mastercard's $18 billion acquisition of BVNK: MiCA, CASP, and EMI licenses become core assets.
Mastercard's $18 billion acquisition of BVNK: MiCA, CASP, and EMI licenses become core assets.

Mastercard completed its acquisition of stablecoin payments company BVNK for up to $18 billion on August 3, 2026, several months ahead of the originally scheduled end of the year. The actual target of the transaction was not technology or customers, but rather BVNK's Malta MFSA.

15
June
When a Hong Kong MSO receives clients from high-risk areas, how should EDD and transaction limits be set?
When a Hong Kong MSO receives clients from high-risk areas, how should EDD and transaction limits be set?

When Hong Kong MSOs accept clients from high-risk regions, EDD and transaction limits must be set simultaneously: First, verify the client's identity, beneficial owner, source of funds, purpose of payment, country or region of transaction, counterparty, and sanctions screening; then set single, daily, monthly, and cumulative limits according to risk. For clients with insufficient explanations, limits should be tightened or transactions suspended, and the compliance officer or MLRO should determine whether enhanced due diligence, denial of service, client termination, or submission of STR (Statistical Transaction Report) is necessary.

14
June
The Bank of England's Digital Sterling Lab enters Phase Two: Testing of Stablecoins and CBDC in Collaboration for Cross-Border Trade Finance
The Bank of England's Digital Sterling Lab enters Phase Two: Testing of Stablecoins and CBDC in Collaboration for Cross-Border Trade Finance

The Bank of England's Digital Sterling Lab has entered its second phase, collaborating with NOBO Finance, Dun & Bradstreet, and Polygon Labs to test the synergy between public stablecoins and potential digital pounds in cross-border trade finance for SMEs. The experiment does not involve real funds, and the results will be used in a joint assessment of the digital pound by the Bank of England and the Treasury.

14
June
When Hong Kong MSOs work with corporate clients, how do they create a closed loop regarding payment purpose, beneficiary, and source of information?
When Hong Kong MSOs work with corporate clients, how do they create a closed loop regarding payment purpose, beneficiary, and source of information?

When MSO in Hong Kong works with corporate clients, the payment purpose, beneficiary, and source information must form an AML/CFT chain of evidence: corporate identity, ultimate beneficiary, contract or order, invoice, proof of service or logistics, paying bank, source of funds, and records of sanctions/PEP/negative news screening and transaction monitoring must corroborate each other.

12
June

This page has been updated.

This content has been updated and moved to a new page.
Please click the button below to access the latest version.

Go to new page