With almost 600 billion USD inremittances to low- and middle-income countries in 2021 the cross borderpayments and the remittances industry remains a lifeline for millions of peopleglobally. Every day millions of people are dependent on their family andfriends sending money back home for daily basic needs such as food, hospitalbills and their children’s education, which intensified further during COVID19.
With blockchain technologyand the rise of cryptocurrencies this industry is likely to see a change in thebusiness models and how companies are operating globally in the coming years.What role will blockchain technology and cryptocurrencies play in thedevelopment of cross border payments? How will this development of the industrychange the risks that the industry is facing today? And how will these changesaffect the risks of the different stakeholders?
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