The Crypto Company Transforming Global Commerce | TechBullion

Cross-border commerce is an often ignored financial problem facing billions of people worldwide. Sky-high fees, long transaction times and lack of choice can drive consumers and businesses to distraction. As a result, many existing companies exploit these inefficiencies, eating into the budgets of hardworking people.

Roughly 1.7 billion adults are underbanked, with cross-border remittances averaging 7% in charges. With $600+bn exchanged yearly (as much as 10% of GDP for some international locations) the issue of cross-border funds must be addressed.

Legacy Fintech

A rising variety of fintech corporations have taken goal on the incumbent monetary establishments which might be holding again progress. TransferWise, WorldRemit and others have dramatically slashed the inflated prices related to remittances. Despite the progress, many of those monetary expertise options nonetheless depend on outdated legacy applied sciences. 

We’re left with a ‘better, but not great’ monetary actuality with thousands and thousands of individuals sidelined by this band assist method. Luckily, recent Fintech corporations are launching thrilling cost options on prime of state-of-the-art blockchain expertise.

Stellar Solution

One benefit that cryptocurrency expertise has over extra conventional legacy cost structure is the bespoke nature of blockchain consensus. These networks have been constructed from the bottom up for one objective, the environment friendly change and validation of ledger info. Blockchain permits the safe transferring of digital cash, wherever on the earth with simply an web connection. 

The Stellar network has developed to handle this very use case. By leveraging a novel federated byzantine consensus protocol (SCP), transaction prices and confirmations are extraordinarily environment friendly. Base-level transaction charges common fractions of a cent, with transfers taking 3-5 seconds. 

And that’s not all. The nature of Stellar’s blockchain permits for the tokenization of any asset – digital or bodily – to be represented on the community. As a end result, it helps automated path funds between any two belongings; creating limitless worth change potential between members. US {dollars} immediately flip into Mexican Pesos, Japanese Yen, or the rest.

Transforming Global Commerce

Technology leaps are all properly and good, however just like the web, they’re ineffective with out purposes. Enter MobiePay – a common funds and rewards ecosystem seeking to remodel world commerce. Leveraging the Stellar community, MobiePay in being constructed to permit anybody with a cell phone to spend or ship money and digital currencies, wherever on the earth. To handle the rising shopper calls for for digital funds, the corporate is creating three complimentary ecosystems. 


Intended to present shoppers entry to a set of blockchain-leveraging shopper going through pockets and banking merchandise. Mobie is within the means of integrating with 1000’s of level of sale methods at a whole bunch of shops. An insured checking and financial savings accounts, in addition to a debit card, ought to assist drive mass-adoption. The magic doesn’t cease there. Peer-to-peer funds on the Mobie platform are being developed to permit customers to ship and obtain each fiat and digital foreign money denominations, globally, in seconds.


To complement the suite of shopper pockets and banking purposes, MobieX is being constructed to develop on the performance of digital belongings and buying and selling. Stellar’s cost performance permits each digital and fiat swaps in seconds. As a end result, cross-border remittances ought to profit from entry to the cell pockets and environment friendly foreign money change performance. Staking rewards are additionally being arrange for person distribution primarily based on the quantity of MobieCoin held by wallets. 


Last however not least, MobiePay – this product is supposed for the service provider gateways and settlement ecosystem and may considerably cut back cost processing charges. User pleasant, loyalty applications are additionally being developed, giving retailers the flexibility to arrange customized rewards methods. Other deliberate advantages will embody; direct advertising and promotion performance and mass ship, or payroll to anybody worldwide.


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