According to a new report, the depreciation of some currencies against the U.S. dollar is contributing to the declining international remittances. After touching an all-time high of $548 billion in 2019, the World Bank report now projects remittances to drop 7.2% in 2020 to $508 billion and a further decline of 7.5% to $470 billion […]
The post Currency Depreciation to Blame for 7.2% Drop in Global Remittances: World Bank Supports Digital Remittances appeared first on Bitcoin News.
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In a globalized world where labor follows capital, the remittance industry has been growing constantly in both volume and users. Traditional providers like banks and money transfer companies have been charging high fees for their services which creates opportunities for alternative digital platforms and decentralized cryptocurrencies. Also read: Russians Can Use Qiwi, Sberbank, Yandex Money […]
The post Digital Remittances Reach Record High of $96 Billion, Fees Charged by Traditional Providers Open Door for Cryptocurrencies appeared first on Bitcoin News.
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