The report also quotes Scott Onder, a senior managing director at Mercy Corps Ventures, explaining why cryptocurrencies are better moving funds across borders. He said:
”Cryptocurrency removes this costly barrier and has the potential to create new ways for young people to earn, spend, save and send money.”
This is one of the best current use-cases for crypto, IMO. Sending money overseas using traditional methods feels so antiquated and the fees imposed are ridiculous. You feel like he getting shafted by the bank at every possible moment when trying to do something as simple as transfer money from an account in once country, over to another.
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