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In Australia, trust money in the legal industry is the money a law practice holds on behalf of a client or other people in the course of, or in connection with, the provision of legal services. [1] Trust money is required to be held by a law firm on a client's behalf in a trust account with a bank and is highly regulated.
The Cross-border Interbank Payment System (CIPS) is a Chinese payment system that offers clearing and settlement services for its participants in cross-border renminbi (RMB) payments and trade. CIPS is backed by the People's Bank of China and was launched in 2015 as part of a policy effort to internationalize the use of China’s currency.
Paperless trade refers to "trade taking place on the basis of electronic communications, including exchange of trade-related data and documents in electronic form" [1] in the Framework Agreement on Facilitation of Cross-border Paperless Trade in Asia and the Pacific, adopted at United Nations Economic and Social Commission for Asia and the Pacific in May 2016.
mBridge (a.k.a. Multiple CBDC Bridge) is a multiple central bank digital currency platform developed to support real-time, peer-to-peer, cross-border payments and foreign exchange transactions using CBDCs.
Wise Business allows businesses to perform cross-border money transfers. Wise Platform is a platform allowing "banks and businesses to offer their customers fast, cheap and transparent ways to manage their money across borders". [3] As of 2023, Wise partners with BlackRock for its interest bearing accounts. [39]
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TrustArc was founded as a non-profit industry association called TRUSTe in 1997 by Lori Fena, then executive director of the Electronic Frontier Foundation, and Charles Jennings, a software entrepreneur, with the mission of fostering online commerce by helping businesses and other online organizations self-regulate privacy concerns.
International financial transactions are based on several financing philosophies, whose application is affected by the course of economic growth and development within an individual national economy. This is demonstrated by the evolution of the financing technique known as International structured trade & commodity finance ( STCF ).