REMITTANCE REVOLUTION: HOW THE INDUSTRY WILL EVOLVE IN 2025? | Serve

Blockchain technology has created quite a stir in all aspects of finance in a global context, including remittance. By 2025, online money transfers services will become even faster by using more and more solutions based on blockchain technology, which should also make them cheaper and more secure. Some remittance companies are looking into collaboration with startups around blockchain technology to make transaction records visible and immutable to users, which will greatly minimize fraud and build user trust. Cryptocurrencies are also gaining ground as remittance vehicles. Companies such as Ripple and Stellar, for example, are busy incorporating digital currencies into their platforms, allowing people to transfer funds around the world - at least in principle - with very little fees and in real-time. The fact that stablecoins can be pegged to traditional currencies would take care of "volatility" in the sense of currency movements, making them easier for everyday remittance.