Crypto remittance on the rise as fintech companies increasingly leverage crypto and blockchain to capture the international payments market.
A remittance is a payment document, such as a bank draft, check, money transfer, etc., which is made in a foreign currency. Remittances are delivered to a debtor or remitter in his/her national currency by the third party and then are sent to the foreign creditor to pay arrears. With the appearance of digital cryptocurrency, such as Bitcoin — now functioning as a third, independent currency — the era of the remittances industry, including other kinds of international money transfers, has reached a turning point. By using modern technological systems, it is easy to convert money into any possible fiat currency with Bitcoin without even leaving home. Also, virtual transactions prevent robbery, loss or damage of money and provide quite fast confirmations.
- Justin Sun Posts Video From San Francisco Following Investigation Reports
- Prominent Nigerian Politician Calls for Legal Framework for Cryptocurrencies
- Japanese General Trading Company Backs Blockchain Platform for Wind, Solar
- New York State Digital Currency Task Force Appoints New Members
- Philippines-Based UnionBank Completes Blockchain Remittances Pilot