A financial transaction where the payer and receiver are located in different countries, necessitating the transfer of value across national borders and often involving currency conversion.
Mechanism
Traditional mechanisms involve correspondent banking networks, SWIFT messaging, and interbank settlements, which introduce multiple intermediaries and inherent latency. Crypto-based solutions utilize distributed ledgers for direct, peer-to-peer value transfer.
Methodology
Blockchain technology facilitates direct transfers using stablecoins or native cryptocurrencies, bypassing traditional intermediaries to achieve faster settlement, reduced costs, and enhanced transparency compared to legacy systems, thereby optimizing global financial flows.
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