The International Monetary Fund (IMF) is hosting an online conference on cross-border payments that is set to go live today on October 19, 2020. The top-level speakers will be joining this conference. One of them is the Chief Executive Officer (CEO) of the Stellar Development Foundation (SDF) Denelle Dixon. The seminar will focus on discussing cross-border payments and their future. This IMF-hosted conference will consist of four panels or four sessions. Each session consists of four panelists and will take place according to its scheduled time on the same day.
Many famous personalities are participating in this conference to present their views on cross-border payments. Some of them are Stellar CEO Denelle Dixon, the Chairman of the United States Federal Reserve Jerome Powell, the General Manager of the Bank for International Settlements Agustín Carstens, the Chief Executive Officer (CEO) of eCurrency, Jonathan Dharmapalan, the CEO of Celo Rene Reinsberg, the Senior Vice President at MasterCard Rory MacFarquhar, the Chief Fintech Officer (CFO) at Monetary Authority Singapore Sopnendu Mohanty, and some others. They all will be talking about cross-border payments in their respective panel sessions.
Entitled “Cross-Border Payments: A New Beginning”, the main agenda of this seminar is to discuss key solutions for boosting and enhancing cross-border payments as well as highlighting the risks and benefits that are involved in using digital currencies for cross-border payments.
Stellar CEO will be joining the second session of the conference. She along with her panel members will be discussing shortcomings in systems of cross-border payments as well as new technological developments from the private sector that may offer innovative solutions. They will also shed a light on the emerging solutions and how they can be used for their benefits. In the end, they will be unveiling “what private entrepreneurs expect from policymakers and regulators”.
Cross-border payments or transactional payments take place between individuals or companies that belong to separate countries. They can help different financial institutions from across the whole world to transfer funds to each other. The blockchain payment technology giant Ripple has already started working on reforming its cross-border payments.