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.
A former lawmaker from the island nation wants to use Bitcoin to secure his country’s financial security.
Volcanos, Bitcoin and remittances: A Tongan lord plans for financial security
In a ruling that is “almost identical to the El Salvador bill,” Tongan bigwig Lord Fusitu’a anticipates that his country could adopt Bitcoin by November.
Tonga to copy El Salvador’s bill making Bitcoin legal tender, says former MP
Flutterwave is teaming up Tempo Payments to use USDC on Stellar to target Africa’s enormous remittances market.
Stellar partners tap USDC for remittances between Europe and Africa
The path to mass cryptocurrency adoption passes through remittances, but it may not happen any time soon.
Crypto remittances see adoption, but volatility may be a deal breaker
Speaking on a panel as part of the Senate inquiry into “Australia as a Technology and Financial Centre,” three crypto firms outlined their de-banking experience...
Australian crypto businesses tell Senate inquiry about being de-banked up to 91 times
Reduced remittance costs could prove significant in justifying El Salvador’s adoption of Bitcoin as legal tender.
El Salvador’s Bitcoin adoption may transform remittances in Central America
The new cross-border remittance corridor will be hosted on the Stellar blockchain and serve around 600 million customers.
Stellar blockchain remittance corridor to power Thailand–Europe payments