💸Digital Remittance
Last updated
Last updated
The use of cryptocurrencies for cross-border payments and remittances is expected to drive significant demand for crypto to fiat bridging platforms in the coming years. According to a report by Allied Market Research, the global remittance market size was valued at $701.93 billion in 2020, and is projected to reach $1,227.22 billion by 2030, registering a CAGR of 5.7% from 2021 to 2030. And the global blockchain in remittance and payment market is expected to reach $3.12 billion by 2026, growing at a CAGR of 67.3% from 2019 to 2026. This growth is expected to be driven by factors such as increasing globalization, rising adoption of digital payment methods, and the need for fast and secure cross-border payments.
The report suggests that the Asia Pacific region is likely to be a key driver of growth in the crypto to fiat bridging market, due to the region's large and rapidly growing population, as well as its increasing adoption of digital payments. The report also notes that the adoption of cryptocurrencies by millennials and other tech-savvy consumers is likely to drive demand for crypto to fiat bridging platforms in the coming years.
According to the Statista 2023 study, the Digital Remittances market in Indonesia is set for substantial growth, with its transaction value expected to reach an impressive US$1.10bn in 2024. This robust expansion is predicted to maintain an annual growth rate (CAGR 2024-2028) of 4.86%, resulting in a projected total market value of US$1.33bn by 2028. Along with this financial expansion, user participation in the market is also anticipated to rise, reaching a figure of approximately 29.15k users by the end of 2028. Furthermore, the average transaction value per user within the Digital Remittances market is expected to be around US$43.94k in 2024, adding another dynamic to this promising financial landscape.
Our remittance service bridges the gap between cryptocurrencies and traditional fiat currencies, providing a versatile solution for transferring money globally. Whether users prefer digital assets or conventional currencies, our platform ensures seamless, secure, and efficient cross-border transactions. This dual-currency approach caters to a broad market, accommodating the growing demand for cryptocurrency transactions while supporting those who rely on traditional financial systems. By offering both options, we provide users with flexibility and accessibility, ensuring safe and reliable money transfers for all.
