Stuck payments are the bane of the treasurer’s life, sometimes taking weeks to resolve. Chong Hing Bank spoke to CT about why it’s using J.P. Morgan’s blockchain network
Just as others – including heavyweights IBM and JP Morgan – are racing into the cryptocurrency space, Citibank is getting out. Just how useful will this kind of tech be for corporate treasury?
A revolution in the way the public pays is being echoed in the corporate world. As the likes of BAML roll out innovation payment solutions for corporates, treasurers are weighing up the benefit.
Some of the world’s top companies – also including Roche, GE and others – join Swift’s global payment initiative pilot. But whether other “Swift corporates” will be able to go GPI-active remains to be seen.
From today Chinese financial institutions no longer have to set aside 20 per cent of the value of dollar purchases. For treasurers, that means lower costs and an opportunity to hedge.
International payment network Swift has a long record but blockchain-based upstarts such as Ripple are nipping at its heels. Here, insiders from Swift and Ripple go head to head.