Why does McKinsey’s report (see URL) imply cross-border flow is in hundreds of trillions of $ ? What does cross-border flow mean in the report?

Reference: A vision for the future for cross-border payments. The cross border flow implies the cross-border payments that are made between two countries. The B2B (Business-to-Business) cross-border payments market is huge! No one has an exact estimate, but it is believed to be more than US$ 50 Trillion and probably closer to the US$ 100-125 […]

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What role do US banks play in international money transfers?

Predominantly two roles: US Dollar Clearing (Correspondent Banking Relationship or CBR as it is known) International Money Transfer to/from the United States. In the first instance, the US Bank that are authorized to provide US Dollar Clearing, act as Correspondent Banks for other financial institutions worldwide for US Dollar Clearing. As the US Dollar is […]

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Is is smart for a fintech startup to develop a blockChain application while the main target audience is banks? Wouldn’t installing nodes on banks’ devises be a major security concern for these banks?

There isn’t a lot to go on from the question you have posed, but consider this. If the fintech startup plans to do anything with fiat money, chances are it would need to be licensed and under this licensing umbrella, there will be a complete framework of how to handle risk, security, compliance, etc. Whether […]

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