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.
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
Cointelegraph traveled to El Salvador to investigate whether citizens believe its new Bitcoin Law will be beneficial to the nation's economy.
Inside El Salvador’s Bitcoin experiment: Cointelegraph video report
Steve Hanke slammed El Salvador’s Bitcoin adoption as legal tender and questioned how Bitcoin would function in day-to-day transactions.
Steve Hanke warns BTC could ‘completely collapse the economy’ of El Salvador
Remittance firms operating in El Salvador appear reluctant to support Bitcoin despite the country’s new law mandating the crypto asset as legal tender.
Remittance firms hesitant to support BTC despite legal tender law in El Salvador
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