It started a few years ago with the hopes of a new era, the Quantum Financial System era. We believe in a transparent financial system where people have the power and control of their money, when, why and whenever they wish to move, spend, send or receive funds. The Stellar Network brings this flexibility and so much more! We have been building on the Stellar Dex for several years now with > 100 token mints/projects.
We hope for all people to prosper in the new Quantum Financial System, some will more than others simply because of being informed.
God Speed Folks-
DID YOU KNOW?
Each year, over $500 billion of value is transferred cross-border through personal remittances. In most cases, remittances are transfers of money from foreign workers to family members in their home country, sent on a monthly basis. The typical transaction is $200 to $300 and the average retail cost of these transfers runs 7-8%, usually collected in cash. Sending costs can be as high as 15% when transferring money to people in developing economies.
High fees to use traditional Money Transfer Operators (MTOs) are often paid by those who can afford it least – the 1.7 billion unbanked adults in the world. And those costs impact not only the sender and receiver – they also impact businesses wanting to provide speedy, affordable remittance services to these under-served demographics.
Because there are so many steps involved in using legacy financial systems and moving value through emerging market economies, costs have remained high. But technology is changing the landscape. Today, remittance service providers, digital money apps, growing fintech companies, and remote traditional banks can use Stellar to reduce the friction and costs associated with traditional MTOs, correspondent banks, and financial payment rails.
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