Tagbitcoin remittance

Exploding Cryptocurrency Use in Remittances From US: 15.8% Now Using Cryptocurrency

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A new report by research focused cryptocurrency company Clovr, has revealed a significant upsurge in the use of cryptocurrency in remittances across the globe. The study, which surveyed the responses of 707 people sought to delve into their remittance habits, uncovering among other things the destination of transfers, the purpose of the transfers as well as the mediums (including cryptocurrency)...

Overseas Remittance is a $400 Billion Market, Can Bitcoin Dominate?

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Western Union, Thunes, mobile wallet

FastCompany’s report revealed that overseas remittance totaled $429 billion in 2016. Some of the largest Remittance markets include China and the Philippines. Already, bitcoin startups have begun to dominate the remittance markets in the two countries, with the Philippines leading bitcoin remittance innovation. Both domestic and international remittance is a massive market within the Philippines...

Bitcoin Will Scale Donald Trump's Mexico-Remittance Wall

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Bitcoin Trump

One of Donald Trump’s many campaign promises if he is elected President of the United States is a tall wall along the Mexico-U.S. border. Mexico is footing the bill, if it were up to the Donald. Refuse and Trump will put the brakes on the $24 billion remittance flow from U.S. to Mexico, his plan shows. The legality and feasibility of such measures aside, the plan is simple enough, with one...

A Donald Trump Presidency Would Increase Bitcoin Remittances to Mexico

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Donald Trump Bitcoin

A wall. Trump still wants a wall. That’s what he says.Earlier this week, when Trump revealed his plan to block remittances from illegal immigrants to their families - calling it “welfare” - he failed to demonstrate his understanding of the Internet and contemporary, borderless commerce. If it’s not remittances, immigrants in the US will figure out a way to send their money home if they want to do...

Western Union Faces Legal Scrutiny In EU Over Business Practices

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Bitcoin Western Union DCG

In the world of cash-transfers, few other companies come to mind as instantaneously as Western Union. If you’ve walked in a convenience store anywhere between the west and east coast of the United States, you’ve probably seen a banner for Western Union. The remittance provider is currently facing a preliminary antitrust inquiry as the EU examines allegations of Western Union intentionally driving...

Visa Europe Collab Partners With Epiphyte On Using Block Chain To Improve Global Remittance

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Visa, cryptocurrency

Visa Europe Collab, the global hub for Visa Europe International, and Epiphyte, provider of a block-chain-based software as a solution (SaaS) for immediate financial transactions, are combining their expertise to develop a more efficient global remittance service they told CCN in an email. The companies are working on a proof-of-concept to use bitcoin and block chain capabilities to...

Bitcoin Remittance Services in Indonesia Could Save Migrant Workers $374 Million

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In 2010, more than $5 billion was sent back home from Indonesian migrant workers across the world, up 2.44 percent from 2009 ($4.91 billion). That number may seem huge but, in the grand scheme of things, it’s very small. Through the process of remittance, $436 billion looked to be sent back home in total during 2014 – before the banks took their cut through fees. According to a report by the...

Andorra to Zimbabwe - Bitcoin Ends Brutal Price Gouging on Global Payments

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WAToday reports that Bitcoin is a speedy and cheap solution to "avoid being gouged by brutal online banking costs" when sending money across borders. The article sites an unusual case in which Crystal Fong, 29, an entrepreneur on travel from Australia to Tokyo found herself in a prickly situation. Both her debit cards (from 2 different banks) were cancelled at the same time. Both banks cited ATM...

Bitcoin As A Medium Of Exchange: Domestic Remittances Use Case

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International Remittances Before we delve into the promise of Domestic remittances, we must understand the hype behind International remittances.  International remittances have been growing every year, and many consider it to be a “killer app” for Bitcoin.  One noticeable example of a startup rising up to face this challenge is Buttercoin. About Buttercoin, Bloomberg’s Businessweek had this to...