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Why Migrants Are Turning to Crypto: The Key to Attaining the UN Goal to Reduce Remittance Costs to Less Than 3% by 2030

Why Migrants Are Turning to Crypto: The Key to Attaining the UN Goal to Reduce Remittance Costs to Less Than 3% by 2030The cost incurred by African migrants or expatriates when sending funds via the so-called formal corridors remains way above the UN target of less than three percent, the latest data from the World Bank has shown. On the other hand, the cost is much lower than the target when cryptocurrencies are used. Global Average Higher […]

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Nigerian Remittances Rebound as Country Tops Sub Sahara Africa — Sending Costs Still High

Nigerian Remittances Rebound as Country Tops Sub Sahara Africa — Sending Costs Still HighNigeria is once again Sub Sahara Africa’s biggest recipient of remittances into the region where the money transfers went up by 6.2 percent to $45 billion, a new World Bank report has shown. The Impact of Nigerian Policies on Remittances According to the November 17, 2021 press release, this increase in the value of funds […]

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African Migrants Are Turning to Cryptocurrency Platforms for ‘Low-Fee Remittances’

African Migrants Are Turning to Cryptocurrency Platforms for ‘Low-Fee Remittances’As central banks on the African continent fight to keep cryptocurrencies from going mainstream, many more migrant workers are increasingly turning to money-sending platforms that use cryptocurrencies when moving funds across borders. More Than Just an Investment Thus in addition to becoming a “hot investment for hedge funders and corporate moguls,” crypto-assets like bitcoin are […]

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