Crypto Seen as Investment Opportunity in the MENA Region Says Iceberg Capital Executive Chairman
In addition, Kheriba said factors such as inflation or the depreciation of national currencies have played a part in driving up the number of citizens that have embraced crypto. On the other hand, for residents of more affluent countries, cryptocurrency is increasingly seen as an investment opportunity.
Furthermore, the convenience and cost-effectiveness of cross-border remittances are pulling people into crypto. In a region where cross-border payments can be expensive, time-consuming, and often opaque, crypto provides a faster, easier, and cheaper alternative. This is particularly relevant for migrant workers who are looking for ways to send money back home to their families.
Another factor that is driving crypto adoption in the MENA region is the emphasis on secure cross-border remittances. The region has a large migrant population, and traditional cross-border payments can be expensive and time-consuming. Crypto remittances offer a faster, easier, and cheaper alternative, making them a popular choice in the region.
SWIFT, the current interbank messaging system for cross-border payments, is certainly inefficient today. Stablecoins and crypto technology can make cross-border payments seamless, efficient, and fast. They solve the problems, at least for remittances, that SWIFT should have solved over a decade ago.
Innovation within the Web3 space is happening fast! It won't be long until we see core societal and economic changes happening. Imagine the possiblities of a truly borderless global economy!
🤔🤔🤔
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Except for the average person they are difficult, confusing and risky🤔
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At present, XLM is in the process of testing the support level within the range of $0.0817-$0.0835.
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