Providing Our Clients With Expert Advice And Industry Best Practices
Call US TODAY 864-649-6300
Menu
Search

Blog

Home > Blog Posts > The Benefits of Virtual Asset Payments
Aug27 - 20

The Benefits of Virtual Asset Payments

Brandi Reynolds, CAMS-Audit

Introduction

The new virtual asset payments can be a great game changer in the entire financial market area, especially over traditional payments. Below are three main benefits offered by these virtual asset payments.

Safeguarding the Money Remittance Business

The big change made by blockchain technology along with digital assets constructed on top of that, such as cryptocurrencies have been safeguarding money remittances. Utilizing blockchain technology for money remittances allows for quick, safe, and inexpensive remittances. Traditionally, cryptocurrency transactions have lower transaction costs than traditional payment methods.

Cryptocurrency Cannot be Deflated or Inflated

Cryptocurrency is decentralized, meaning it can’t be deflated or inflated due to the choices of a central government. However, not having a central bank control cryptocurrency adds to its volatility as no central force can step in to correct the markets (although this can differ by coin type).

Gives the Most Flexibility and Convenient Solution to the Banking Industry

We have been hearing a lot regarding digital banking and branchless banking which might still be ongoing in the future. We are seeing current conventional banks making attempts to get into this new area as virtual asset payment has taken the entire market by offering the most flexible and convenient solution.

Categories

Archives

Events

May
5-7, 2021

The 2021 IMTC EMEA event is the first-ever hybrid event of the Cross-Border Payment Industry in Europe. Learn how to register for this event here.

June
4-5, 2021

Bitcoin 2021 will move the biggest Bitcoin event in history to Miami, targeting dates of June 4–5, with Jack Dorsey, Chamath Palihapitiya, Nick Szabo and…

contact us

Please fill out all fields marked with* and submit the following form to
request your consultation.

Contact Us Today

Please fill out all fields marked with * and submit the following form to request your consultation.

  • This field is for validation purposes and should be left unchanged.

Call Now Button