syedaseema00
--
🌍 Millions of people across the globe rely on sending money back home to support their loved ones. But what many don’t realize is how much of that money gets eaten up by fees along the way.
💸 The reality is frustrating. Imagine sending $200 to your family in Tanzania, only for $115 of that to be lost in fees alone. That’s more than half—gone before it even arrives. And it’s not just Tanzania. Türkiye takes a $53 cut, while Senegal takes $35. These aren’t glitches—they’re features of an outdated system that benefits a select few.
💼 Traditional banks and remittance providers dominate these payment rails, and because there’s little competition, they set high fees with no accountability. The result? A slow, costly, and broken system that hurts the very people who need support the most.
Even “cheaper” transfers are a bad deal. Sending $200 to Switzerland or Sweden can still cost $16. That’s unacceptable when we know better solutions exist. If you’ve ever used a blockchain like Solana or an Ethereum L2, you’ve seen it firsthand—transferring stablecoins worth thousands costs fractions of a cent and settles in seconds.
🧠 It’s clear the legacy financial system isn’t built for global inclusivity. The future lies in blockchain-based payment solutions—faster, cheaper, and more transparent. Banks can either resist this inevitable shift and risk losing relevance, or adapt by embracing crypto and the technology behind it 🔗
$SOL
$ETH
💸 The reality is frustrating. Imagine sending $200 to your family in Tanzania, only for $115 of that to be lost in fees alone. That’s more than half—gone before it even arrives. And it’s not just Tanzania. Türkiye takes a $53 cut, while Senegal takes $35. These aren’t glitches—they’re features of an outdated system that benefits a select few.
💼 Traditional banks and remittance providers dominate these payment rails, and because there’s little competition, they set high fees with no accountability. The result? A slow, costly, and broken system that hurts the very people who need support the most.
Even “cheaper” transfers are a bad deal. Sending $200 to Switzerland or Sweden can still cost $16. That’s unacceptable when we know better solutions exist. If you’ve ever used a blockchain like Solana or an Ethereum L2, you’ve seen it firsthand—transferring stablecoins worth thousands costs fractions of a cent and settles in seconds.
🧠 It’s clear the legacy financial system isn’t built for global inclusivity. The future lies in blockchain-based payment solutions—faster, cheaper, and more transparent. Banks can either resist this inevitable shift and risk losing relevance, or adapt by embracing crypto and the technology behind it 🔗
$SOL
$ETH
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
0
0