The latest development in virtual currencies is making them physical. The idea of a physical bitcoin might seem a contradiction in terms, given the revolutionary language usually afforded to such virtual currencies, but the move makes sense when you consider the customer.
A major annoyance for American companies paying suppliers outside the US, or receiving payments from foreign customers, are the fees levied by the relatively few large correspondent banks. This small group has to be used by all other banks in order to complete the foreign exchange (FX) component.
In this internet era, people are looking at the opportunities virtual currencies provide for digital payments. Low-cost transactions and speed are what they expect. Regulators have scrambled to obtain a modicum of supervision over the relatively rapid uptake of cryptocurrencies. Can virtual currencies offer a more efficient medium of exchange and benefit economies in the long run?
Treasury centralisation is experiencing continued strong growth, with London emerging as the preferred location for multinationals to base their regional or global treasury centres. At a November 17 briefing in the UK Capital, treasury and trade solutions executives from Citi outlined key global and Europe, Middle East and Africa (EMEA) region treasury trends.