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?
The bank has moved $900 million across borders at lightning speed since tapping Ripple's blockchain solution. Its transaction services chief tells CT how, and details the limits of the system.
The British engineering giant faces a huge bill over illicit payments to third parties in Asia and elsewhere. The case offers important lessons for CFOs in examining payments to third parties overseas.
Surveys show 74% of corporates with renminbi exposures cite CIPS delays as their most important regulatory concern, while others identify deregulation.
Basel III proposals requiring banks to report intra-day liquidity will severely stifle correspondent relationships, but the infrastructure could be valuable to companies.
StanChart and Baoxin Group; HSBC and Saint-Gobain; and Citi and Roche have announced new cash programmes relating to pooling and netting in the Shanghai free trade zone following central bank clarifications.