Bahamas Payment Platform Is Latest to Offer Crypto Remittance
- Island Pay, Circle launch new USDC wallet in Latin America
- Remittances in the region expected to grow 3.3% this year
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Migrants are sending money home to family and friends at unprecedented rates despite the high costs and challenges of traditional remittances.
Cryptocurrency proponents have long cited their technology as the answer for money transfers in regions like Latin America, where the majority of people are unbanked. But those efforts have failed to gain much traction as skepticism over digital assets remains and cash is still king.