Remittance Market Optimization involves improving the efficiency, cost-effectiveness, and speed of sending money across international borders. This includes streamlining payment rails, reducing transaction fees, and enhancing delivery times for cross-border transfers. Its objective is to provide better services for individuals and businesses engaged in international money movement. Technological advancements and new payment protocols contribute to this improvement.
Context
News often discusses Remittance Market Optimization in relation to blockchain technology and digital currencies. The potential for distributed ledgers to lower costs and accelerate international payments is a significant area of focus. Innovations in this sector aim to address the inefficiencies of traditional remittance channels, particularly for underserved populations.
This strategic pivot integrates DLT into the core messaging layer, mitigating counterparty risk and reducing operational friction in the $700 billion global remittance market.
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