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<aside> 🌎 Emerging Market Emerging markets, often found in Latin America, Africa, and Asia, are economies undergoing rapid growth and industrialization. These markets often use non-deliverable currencies (NDCs), which cannot be traded or delivered offshore due to regulatory restrictions. This necessitates the use of correspondent banks to facilitate international transactions, leading to extended delays and higher costs. These restrictions are designed to maintain financial stability and control over the currency.
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<aside> 🏦 Non-Deliverable Currency Non-deliverable currencies cannot be traded or delivered offshore, requiring the involvement of correspondent banks to facilitate international payments. This additional step introduces delays and higher transaction costs, impacting the efficiency of cross-border transactions. Businesses and individuals face longer waiting times for payments to clear, which can affect cash flow and operational efficiency.
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<aside> 💰 Stablecoin Stablecoins, such as USDC, USDT, and EURCV, are cryptocurrencies backed by real assets like the US dollar or Euro, designed to maintain a stable value. They provide a secure and efficient alternative for transactions by eliminating the need for traditional banking intermediaries. Using blockchain technology, stablecoin transactions are settled almost instantly, reducing the time and cost associated with international payments. This makes them particularly valuable for cross-border transactions and remittances.
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<aside> ⚙ Synthetic Pair Transaction A synthetic pair transaction involves converting one fiat currency (e.g., EUR) to a stablecoin (e.g., USDC) and then converting that stablecoin to another fiat currency (e.g., BRL). This method leverages stablecoins for faster and more efficient transactions while keeping the user experience centered around fiat currencies.
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<aside> 👥 Benefit from a dedicated training session
Fipto offers training on stablecoins for groups of 3 or more. Contact us to schedule a session for your team. Specify any questions upfront so we can tailor the training to your needs.
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