Stablecoins Will Change the Way You Approach Cross-Border Payments

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It takes an average of $13 to send $200 to another country and three to five business days to complete a transaction. 23% of consumers who make international payments to family or friends use at least one kind of cryptocurrency. 13% of them even say that cryptocurrencies are their preferred way of money transfers. However, the crypto winter (aka the bear market) is here. Bitcoin crashed by approximately 80% in 2018 and 2020 and Bitcoin has dropped 70% of its value. Stablecoins are a type of cryptocurrency whose value is tied to an outside asset, such as the U.S. dollar.