“Branded stablecoins will integrate directly with existing consumer applications operating within apps that consumers know,” Naidoo told the First World Stablecoin Summit. “In many cases consumers might not perceive that they are using a cryptocurrency or blockchain.”Read more
For example, Stellar.org wants to offer low-cost remittances. Remittances are cross-border cash payments people send to friends and relative in other countries. Speculators should note this because remittances are an enormous business.
Notably, the World Bank estimates remittance volumes hit a record high in 2017. For instance, the volume of remittances to low and middle-income countries increased by 8.5% in 2017. In detail, people sent $429 billion in remittances in 2016, that figure grew to $466 billion 2017.
More importantly, the total volume of global remittances reached $613 billion in 2017. All remittance payments grew at a rate of 7%, rising from $573 billion in 2016 to $613 billion in 2017.
Stellar.org plans to cash in on remittances by combining them with mobile money. Ultimately, Stellar.org will build a payment network that allows people to send remittances directly to phones in other countries.Read more