After selling up to $20 million in U.S. cash to banks to trade on a new forex interbank market, Zimbabwe’s central bank is now running out of dollars because of the high demand. The country has been dealing with a severe cash shortage that has...
Regulatory changes, particularly those in Europe, are making it an interesting time for companies to be in the forex and money exchange businesses. “They’re dealing with the need to comply with things like GDPR,” Global Data Consortium (GDC) Co-founder Charles Gaddy told PYMNTS in an...
American Express, the payments company, is facing allegations that it would lure foreign exchange business clients its way by offering them low rates to convert currency only to quietly raise the prices. People familiar with the matter told the Wall Street Journal that American Express...
Chinese regulators have capped overseas withdrawals using Chinese bank cards at Rmb100,000 per year. The new cap effectively functions as a gate that closes one of the few remaining simple paths for Chinese nationals looking to get funds out of China by modifying the Rmb100,000 ($15,400)...
September 06, 2016
For weeks now, analysts have warned that the U.K.’s dominance in FX trading is waning. Now, for the first time in more than a decade, the U.K.’s share of the global currencies trading market dropped to 37.1 percent, reports by Financial Times said late last week — that’s down from 41 percent in 2013. New data […]
July 09, 2020
China’s Cosco Shipping will test out Ant Blockchain from Alibaba’s Ant Financial in an effort to simplify its business, Coindesk reported Wednesday (July 8). The firms noted that blockchain could be used to send out documentation that can be authenticated and can’t be modified like import licenses and container records. Cosco, which is based in […]
February 28, 2019
After selling up to $20 million in U.S. cash to banks to trade on a new forex interbank market, Zimbabwe’s central bank is now running out of dollars because of...
July 30, 2018
American Express, the payments company, is facing allegations that it would lure foreign exchange business clients its way by offering them low rates to convert currency only to quietly raise...
January 02, 2018
Chinese regulators have capped overseas withdrawals using Chinese bank cards at Rmb100,000 per year. The new cap effectively functions as a gate that closes one of the few remaining simple paths...
