Digital remittance is the electronic transfer of money across international borders, typically initiated and received using digital platforms. This process often involves leveraging blockchain technology or other digital payment networks to facilitate faster, cheaper, and more transparent cross-border payments compared to traditional banking systems. Digital remittances aim to reduce friction and costs for individuals sending money to family or friends in other countries. They represent a modernization of an essential global financial service.
Context
The advancement of digital remittance solutions is a recurring theme in financial news, particularly in emerging markets where the cost of traditional transfers remains high. Cryptocurrency projects and stablecoins are frequently positioned as solutions for improving these financial flows, offering new avenues for efficient global money movement and financial inclusion.
Leveraging stablecoins for settlement enables the enterprise to decouple liquidity from legacy correspondent banking, boosting capital efficiency across 70 million quarterly transactions.
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