YEMPay: Cross-Border Payments via Digital Assets

Cross-border payments are being revolutionized by digital assets, offering faster, cheaper, and more transparent alternatives to traditional banking networks. Stablecoins and CBDCs enable near-instant settlement across continents, reducing reliance on SWIFT and correspondent banks. From remittances to corporate transfers, institutions like Ripple and JPMorgan are deploying blockchain solutions that cut costs and settlement times from days to seconds.

The Cost and Delay of Traditional International Transfers
Legacy cross-border payment systems rely on a chain of intermediaries—correspondent banks, clearinghouses, and currency exchanges—leading to high fees, opaque pricing, and delays of 2–5 business days. The average remittance cost is 6.5%, according to the World Bank, with some corridors exceeding 10%.

For businesses, delayed settlements impact cash flow and increase counterparty risk. Multinational corporations face complex reconciliation processes and FX inefficiencies.

These inefficiencies stem from siloed systems, time zone differences, and outdated messaging protocols like SWIFT, which only sends instructions—not actual funds.

How Digital Assets Enable Instant Global Transfers
Digital assets—particularly stablecoins and wholesale CBDCs—enable direct, peer-to-peer value transfer across borders. A company in Germany can send USDC to a supplier in Vietnam in under 30 seconds, with full transaction visibility and fees under $1.

Stablecoins act as digital dollars, euros, or Swiss Franc (CHF), bypassing traditional banking rails. Cross-Chain Transfer Protocol (CCTP) like YEMPay allows to move payments/RWA across blockchains without intermediaries, preserving value and speed.
Why Choose YEMPay?
For Users:
Effortless transactions
Strong privacy
Low fees
Intuitive apps help users of all backgrounds enjoy the benefits of digital money
For Businesses:
Instant payments
Reduced fraud and chargebacks
Lower transaction costs
Access to a growing digital customer base
Fits seamlessly with traditional POS systems, making onboarding easy
Sustainability and Trust
All transactions are trackable on the YEM private blockchain for maximum trust and accountability.

Meanwhile, central banks are testing wholesale CBDCs for interbank settlements. The BIS’s Project mBridge connected China, UAE, Thailand, and Hong Kong, completing cross-border transactions in seconds with 50% lower costs.

Corporate and Institutional Adoption
JPMorgan’s JPM Coin is used by multinational clients to settle international payments in real time. In 2023, it processed over $1 billion in daily volume across Asia and Europe.

RippleNet, leveraging the XRP Ledger, partners with banks in the Middle East and Africa to facilitate instant remittances. In the Philippines, users receive payouts in local currency within minutes of a stablecoin transfer.

In trade finance, HSBC and Standard Chartered use blockchain to settle letters of credit in hours instead of days, improving supply chain liquidity.

Regulatory Alignment and Future Outlook
For global adoption, regulatory harmonization is essential. The Financial Stability Board (FSB) and IMF are frameworks for cross-border payments using digital assets.

The G20 has endorsed the “Bridging Framework” to connect CBDCs and private payment systems. As compliance tools like travel rule solutions (e.g., Notabene, TRISA) mature, transparency and AML/KYC requirements are being met.

Digital assets are not replacing banks—they’re upgrading the plumbing of global finance.

The future of cross-border payments is instant, low-cost, and interoperable. As more institutions adopt digital asset rails, the world moves closer to a truly seamless financial network.

To learn how YEMPay can accelerate your international transactions and reduce costs, visit DigitalAssets.Foundation and consult with specialists. FREE consultation.

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