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Where Does Blockchain Stand in the International Remittance Market?

International Remittance Market

Data shows that the international remittance market is huge. In 2016, migrants living in different parts of the world transferred more than $570 billion USD to their home countries. Even though several FinTech overseas money transfer companies have made their presence felt in recent times, the field is still dominated by three of the original players – MoneyGram, Western Union, and Ria. Between them, they account for around 25 percent of the total market share.

What Has FinTech Done?

Unlike the scenario a couple of decades ago, individuals no longer have to rely on banks or …

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