1. High Costs of Cross-Border Settlements
2. Qubetics’ Solution for Near-Instant Cross-Border Payments
3. Expanding Access & Reducing Costs for Businesses and Individuals

Cross-border settlements remain one of global finance's most challenging and costly aspects. With increasing globalization of trade and commerce, businesses, banks, and individuals regularly conduct transactions across borders.

High Costs of Cross-Border Settlements

In today’s interconnected economy, cross-border transactions are vital to businesses and individuals. However, transferring money internationally often involves significant challenges. Traditional banking systems rely on a network of intermediaries, such as correspondent banks to facilitate cross-border transfers. This results in delays, with settlements taking anywhere from 3 to 5 business days or even longer in some cases. Moreover, these intermediaries add layers of fees, which can significantly inflate the cost of the transaction.

Qubetics’ Solution for Near-Instant Cross-Border Payments

Qubetics offers a breakthrough solution to facilitate near-instant cross-border payments. The network leverages a decentralized blockchain infrastructure to streamline the settlement process. This eliminates the need for intermediaries, reducing both the time and cost of cross-border transactions. Each transaction is recorded on a blockchain, providing an immutable record that can be accessed by both parties, enhancing both security and transparency.

Expanding Access & Reducing Costs for Businesses and Individuals

Qubetics’ near-instant cross-border payment solution holds significant promise for a wide range of use cases. For businesses, particularly SMEs engaged in international trade, it helps manage cash flow, reduce dependence on credit lines, and engage in frequent international transactions without facing prohibitive costs. Remittances, often subject to high fees, can now be sent almost instantly at a fraction of the cost.

By leveraging blockchain technology to enable near-instant payments, Qubetics addresses the core issues of high fees and lengthy processing times. The platform’s decentralized infrastructure reduces transaction costs and enhances transparency and security, making it a robust solution for individuals and businesses alike.