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.
Fiat trades are often completed for a sizable fee by bike-riding crypto enthusiasts.
Cuban freedom fighters launch underground Bitcoin remittance network
The CEO of a fintech company has a vision and mission of helping to build regulated crypto, and bridging fiat solutions with DeFi concepts.
Blockchain company aims to help small firms flourish
Venezuela may have the most crypto volume, but this country bests all of Latin America when it comes to retail crypto transactions.
This country accepts more retail crypto transactions than anywhere else in Latin America
MoneyGram saw a significant rise in user transaction numbers for May 2020 compared to the same period last year, coinciding with a partnership with Ripple that ...
MoneyGram Sees 100% Growth Against 2019 Usage
Several factors make India the hallmark country for crypto adoption. Experts, however, agree that several challenges still stand in the way.
Set to Grow, India’s Crypto Industry Must First Toil Tough Ground
Indians are flocking to cryptocurrency due to high remittance fees and the difficulty of exchanging rupees to a more stable currency.
Report: High Remittance Fees and Unstable Rupee Drive Crypto Adoption in India
A U.S. consumer protection agency shout outs Ripple and XRP cross-border settlements in a recent regulatory update.
US Consumer Protection Agency Recognizes XRP’s Potential in Remittance