As real-time domestic payments become ubiquitous across major economies, the spotlight is turning to cross-border transactions. As the global cross-border payments market is expected to reach $290 trillion by 2030, leading banks are racing to innovate in this space.
JPMorgan is pursuing a dual-track strategy: enhancing traditional rails while building blockchain-based solutions. “It’s a balance – how do you grow existing business while future-proofing for tomorrow,“ says Gayathri Vasudev, head of cross-border payments at JPMorgan Payments.
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