The world is getting smaller as digital capabilities expand. However, the effective transfer and easy flow of money are not keeping up. Cryptocurrencies are promised as a solution to remittance barriers but are still only just beginning to become effective.
Cross-border payments are a hot topic when it comes to cryptocurrency use-cases. There is no shortage of discussions on how crypto will revolutionize sending and receiving money across the globe.
Countries are already testing various cross-border payments. In July, the central banks of France and Singapore announced successful cross-border CBDC testing.