Ripple introduces the new stablecoin RLUSD, changing the approach to international transfers by offering faster and cheaper solutions for migrants.
Evolution of International Transfers
In 2024, migrants sent approximately $685 billion to low- and middle-income countries. These transfers play a crucial role in supporting families and national economies. Traditional remittance systems often face high costs and long wait times, reducing their efficiency.
Advantages of Stablecoins
Stablecoins, such as RLUSD from Ripple, provide fast and safe movement of funds without the need for banks or intermediaries. This reduces transfer costs and minimizes the risk of delays.
Impact on Financial Inclusion
Stablecoins are particularly beneficial for 1.4 billion people who currently lack access to banking services. The use of such technologies enhances financial access and promotes transaction transparency.
Ripple's strategy regarding stablecoin continues to reshape the landscape of international transfers, influencing the future of global payments.
