Global Digital Development Forum panel looks to open source technology as a means of increasing global financial inclusion afro.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from afro.com Daily Mail and Mail on Sunday newspapers.
SINGAPORE, April 18, 2023 /PRNewswire/ The Mexican Association of Credit Unions of the Social Sector (AMUCSS), the People's Clearinghouse, and ThitsaWorks have signed a Memorandum of Understanding (MOU) to cooperate in the delivery of a cross-border remittance platform for the US-Mexico corridor, focusing on rural migrant laborers. The platform will use open-source software from the Interledger Foundation and Mojaloop Foundation, specifically, Rafiki and Mojaloop's Cross Network Provider. Many community banks in Mexico face technical limitations that prevent their customers from connecting to the Interbank Electronic Payment System (SPEI) through their own (nostro) accounts, leaving them no choice but to rely on non-transparent intermediaries to connect to other banks' (loro) accounts. Without the ability to directly connect to SPEI, remittances to beneficiaries living in rural Mexico arrive in cash, which is both expensive and risky. To address this issue, AMUCSS has pur
Opposition MeRA25 leader Yanis Varoufakis will visit Cuba from 25 to 29 January at the Cuban government's invitation, a party announcement said on Tuesday.