Over 280 million migrant workers send money home across 70+ countries, fueling a $905 billion remittance economy. Yet average fees of 6.5% and multi-day settlement times inflict the outdated system on which the lifeline of thousands of families depends.
Peer-to-Peer or P2P crypto exchange software, the decentralized marketplaces that enable users to transfer value directly via blockchain, are emerging as an ideal alternative to the age-old remittance platforms. By leveraging stablecoins and escrow-backed trades, these platforms are cutting remittance costs to 1% or less, enabling payment settlements in minutes, and extending global access to the unbanked.