Stellar CEO to Take Part in Conference Hosted by IMF to Discuss Future of Cross-Border Payments

u.today 2020-10-18 15:00
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On its website, the International Monetary fund, has announced an upcoming stream with top-tier speakers who will be discussing the future of transnational payments.

Among them will be the head of Stellar, Denelle Dixon, the Fed Reserve Jerome Powell, head of the Bank for International Settlements, Senior VP of Mastercard and other major figures.

The event is scheduled for October 19.


Stellar, global banks and Mastercard to discuss cross-border payments

The online stream will be called “Cross-Border Payments. A New Beginning”. A panel of top-level decision makers plan to talk about new digital currencies and discuss what the future of cross-border payments will be like, the description on the website says.

The stream will be divided in four parts, each of them dedicated to different but related issues.

The first panel will consist of the Fed Chairman Jerome Powell, General Manager of the Bank for International Settlements, Governor of the Central Bank of Malaysia and the head of the Monetary Authority in Saudi Arabia.

They will be discussing options of possible collaboration between policymakers in order to create highest possible benefits for the society and decrease costs along with risks to the maximum degree.

Prospects of fintech and regulators working together

The Stellar CEO will be joining the second panel to talk about the weak points of the modern cross-border payment systems, innovative solutions from the private sector and what fintech companies expect from global policymakers.

Her fellow-speakers will be the CEO of eCurrency, Celo and Senior VP of Mastercard.


Ripple is working on reforming cross-border payments

Stellar’s rival Ripple has been recently taking active steps towards reforming global cross-border payments by setting up PayID payment network together with other crypto companies (Brave Browser, Huobi, etc) and joining the ISO 20022 standard by integrating it into RippleNet.

ISO 20022 is a multi-part International Standard prepared by ISO Technical Committee TC68 Financial Services.