The global remittance market has seen significant growth in recent years, with a total of $656 billion transferred back to home countries in 2023, according to the World Bank.
Traditional remittance systems rely on intermediaries like banks, which impose fees and delay transactions. This can be problematic for migrant workers who rely on regular income from abroad to support their families.
Cryptocurrencies like Bitcoin offer a decentralized alternative that is faster, cheaper, and more accessible. Since crypto transactions don't require intermediaries, they can be completed quickly and at a lower cost.