USA’s largest cryptocurrency exchange Coinbase, He took action to do in the neighbor what he could not do in the USA. Coinbase, Mexican He switched to a crypto money-based remittance service. Exchange, MoneyGram and wise It is preparing to compete with billion-dollar companies such as
Coinbase-Based Remittance Coming
The post published on Tuesday evening has an important statement directly from Coinbase CEO Brian Armstrong.
After mentioning the importance of instant cryptocurrency-based remittance, Armstrong stated that it is currently in the testing phase.
Users who prefer Coinbase’s transfer will be able to do so directly from the Coinbase app. Coinbase emphasized that those who want can send cash via their own infrastructure and that it can be withdrawn from various stores and points.
When users choose to send crypto money from the application, they will be able to send their assets in their wallets by converting them to other crypto money. Coinbase stated that this includes stablecoins such as USDC. In particular, USDC transfer will be a popular choice for countries whose local currency is constantly depreciating.
The service will be available to everyone as of March 31, 2022. The exchange sees this as a 25% to 30% cheaper product than traditional cross-border payments. By entering the remittance industry, Coinbase actually actively introduced one of the real uses of cryptocurrencies to the market. In the sequel, reactions from traditional companies can be expected.