15% of Remittances in USA to be in Crypto

Researchers concluded that cryptocurrencies can be widely used for money transfers due to low commissions and high speed
25 December 2018   451

A study by Clovr showed that the use of digital currencies in remittances has increased in the global community. This is reported by CCN.

In total, more than 700 respondents were interviewed, who answered about the purpose, direction and purpose of their money transfers from the United States last year. The top ten countries included Mexico, China, India, the Philippines, Vietnam, Guatemala, Nigeria, El Salvador, the Dominican Republic, and Honduras. A significant part of all transfers went to their families - 76.8%.

More than 50% of respondents used PayPal and Western Union, more than 15% of people made transfers in virtual currencies, more than 25% used traditional interbank transfers, the rest used prepaid cards, checks, online transfers and mail.

With a foreign transfer of $ 500, the bank will take a commission of more than $ 52, money transfer operators - more than $ 30, by mail - more than $ 34, and mobile operators - $ 16. Cryptocurrency transfers is much cheaper

Researchers concluded that cryptocurrencies can be widely used for remittances due to low commissions and speed.

Wirex to Issue 26 Stablecoins on XLM Blockchain

Wirex chosen Stellar blockchain because company considers it safe, easily scalable and relatively inexpensive to use
25 April 2019   77

British online banking platform Wirex has announced the listing for the XLM token, as well as the release of 26 stablecoins on the Stellar blockchain, pegged to fiat currencies, including USD, EUR, GBP, HKD and SGD.

Prior to this, Wirex card supported eight digital assets and ten fiat currencies.

In addition, Wirex added the ability to instantly convert steablecoins to each other at over-the-counter rates.

As the company expects, new assets will be used for money transfers, issue and redemption of tokens, as well as for payments for services.

The choice of Wirex fell on the Stellar blockchain, as the company considers it safe, easily scalable and relatively inexpensive to use.

Last year Wirex became the third company in a row that received a license to provide services in the UK and Europe.