Why Blockchain for Remittances?

The Problem with Traditional Remittances

Traditional cross-border payments are plagued by inefficiencies that cost users time and money:

• High Fees: Traditional banks and money transfer services charge exorbitant fees (often 5-10% of the transfer amount)

• Slow Processing: International transfers can take 3-5 business days to complete

• Hidden Costs: Exchange rate markups and hidden fees reduce the amount received

• Limited Accessibility: Many regions lack access to reliable banking infrastructure

• Lack of Transparency: Users often don't know the true cost until after the transfer

How Blockchain Solves These Problems

Speed and Efficiency

Blockchain enables real-time transactions that eliminate the need for multiple intermediaries. Money moves instantly across borders without waiting for traditional banking hours or processing delays.

Cost Reduction

By removing middlemen and leveraging stablecoins, blockchain reduces transfer costs significantly. Users pay only transparent, upfront fees without hidden markups.

Global Accessibility

Blockchain technology works anywhere with internet access, providing financial services to underserved populations who lack traditional banking infrastructure.

Transparency and Security

Every transaction is recorded on an immutable blockchain ledger, providing complete transparency and protection against fraud.

Ramply's Blockchain Advantage

Ramply transforms local currency into stablecoins, moves them instantly across blockchain rails, and converts back to fiat at the destination. This streamlined journey:

• Removes Intermediaries: Direct peer-to-peer transfers without multiple banking layers

• Cuts Costs: Lower fees through blockchain efficiency

• Ensures Speed: Real-time processing regardless of distance

• Provides Security: Blockchain's cryptographic security protects every transaction

• Offers Transparency: Complete visibility into rates, fees, and processing status