Remittances

People in Nigeria, Kenya and Ghana can now receive instant, low-cost remittance payments in local currency through Bitcoin’s Lightning Network.

Bitcoin is the first line of defense for people when they have restricted access to their money or inflation is eating away at their savings.

Bitcoin limits governments’ abilities to block or otherwise intentionally disrupt the financial services of groups and organizations.

The decentralized, economically empowering technology could bring major benefits to the country.

While the development appears to be great for mass adoption, there is risk to the country making bitcoin legal tender.

Bitcoin is, for many, the first opportunity to store wealth in a safe and secure manner, without outside manipulation.

El Salvador, where Bitcoin is being embraced on an unprecedented level, has seen BTC transfers under $1,000 surge this year.

Lightning Network payments solution Strike is offering its services to more than 200 countries with support for additional currencies.

Layer 2 protocols like the Lightning Network and the Liquid sidechain can make it easier for those who leverage bitcoin for remittances.

Crypto wallet provider Coins.ph has partnered with U.S. financial service company Western Union to enhance cross-border transfers to the Philippines.