1 / 3 Relevant items tagged with #Remittances

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Bitcoin Beaten: Stablecoins Shine as Wartime Remittance Tools

[Jun 19 7:50 PM] Marshall Long, an OG bitcoiner, recounted how he had to resort to stablecoins to send a remittance to a worker’s family in Iran. Long noted that stablecoins, rather than bitcoin, are more useful during times of strenuous conflict due to the…

Cryptocurrency Remittances Spike 40% in Latin America

[Jun 15 8:40 AM] According to a report by Chainalysis and AUSTRAC, cryptocurrency rails for remittances are booming in Latam. This use case, which previously struggled to gain momentum, is currently experiencing significant growth, with volumes increasing by over…

Crypto Remittances Fell Nearly 45% in El Salvador

[Jun 14 7:30 AM] Numbers from the Central Bank of El Salvador indicate that crypto remittances sent to El Salvador fell by 45% compared to the first four months of 2024. Crypto flows sent from abroad accounted for less than 1% of all funds sent by foreigners to…

Largest Bank in Guatemala Turns to Crypto for Remittances

[May 24 11:30 AM] Banco Industrial, the largest bank in Guatemala, has announced the integration of Sukupay, a crypto-based cross-border payment provider, to power its remittance services. Using Sukupay, Banco Industrial now offers its customers remittances at a…

Crypto Remittances Fail to Gain Momentum in El Salvador

[Feb 6 9:30 AM] According to the Reserve Bank of El Salvador, the use of crypto to make remittances to the country has consistently accounted for less than 1% of the total share since October 2024. Adoption of Crypto for Remittances Falters in El Salvador Crypto…

Zimbabwe Central Bank Denies Forced Remittance Conversion Claims

[Aug 17, 2024 9:30 AM] The Reserve Bank of Zimbabwe (RBZ) has denied claims that it intends to force recipients of U.S. dollar-denominated remittances to convert their funds into local currency. The central bank clarified that it has no plans to review its diaspora…

Opportunities For Bitcoin Remittance in West Africa

[Aug 6, 2024 1:57 PM] Africa stands at the cusp of a financial revolution as Ecowas region financial ministers and central bank governors advanced plans to launch the single currency initiative, known as the ECO. The Economic Community of West African States (ECOWAS)…

Bitso Integrates Lightspark for Bitcoin Lightning Network

[Jul 16, 2024 9:11 PM] Bitso, a leading Latin American cryptocurrency platform, has announced its partnership with Lightspark to incorporate the Bitcoin Lightning Network into its services. This integration aims to enhance the speed and affordability of bitcoin…