How Stablecoins Are Revolutionizing Global Remittances
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Cross-border remittances have long been a financial lifeline for millions, with global flows hitting $794 billion in 2022. Low- and middle-income countries are projected to receive $685 billion in 2024, underscoring the critical role these transfers play in supporting families, healthcare, education, and small businesses.
Traditional remittance methods, however, remain plagued by inefficiencies. High transaction costs—averaging 6% globally, according to the World Bank—erode the value of these vital transfers. The emergence of stablecoins promises to disrupt this status quo, offering a faster, cheaper, and more transparent alternative.
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