Recent analysis from Juniper Research found that blockchain-powered cross-border B2B payments are expected to reach a $4.4 trillion valuation by the end of 2024, and $191 billion by the end of this year.
Not only does that figure represent the growing demand among businesses for faster, more agile and more transparent ways to move funds across borders, it also reflects the financial services industry’s willingness to embrace something other than legacy payment networks to facilitate that demand.
This week’s examination of payments rail modernization looks at a range of service providers embracing new rails rather than relying on technology to improve existing ones. While firms like Diamante and SatoshiPay embrace blockchain, traditional players like Wells Fargo and HSBC are relying on RTP to accelerate corporate payments.
Read more here: https://www.pymnts.com/news/b2b-payments/2019/finserv-providers-new-rails-faster-b2b-payments/