Why There's Still Hope for Bitcoin Remittance Companies

Can bitcoin make an impact as an intermediary for exotic currencies not often traded? Can it help deliver cash on the ground quicker and cheaper?

Prices are as good as they get here and spreads are tiny, but these are the currencies of rich countries, not of the recipient nations of remittances globally.

Essentially transactions going from A to B and B to A can be 'matched', and instead of actually transferring the money via the SWIFT network, you can keep currency A and B in-country.

It's a neat idea, but it works only for the most frequently traded and transacted currency pairs where there is an equal amount going each way to 'match'.

There may be a case to be made for exotic currencies, but settling payments across currency pairs requires liquidity.

All private banks dealing in a national currency would also be participants in the blockchain and be running the same ledger - any transactional payment metadata can be associated with the blockchain transaction is built into the currency itself.

Today, there are a few bitcoin-and-cash startups around the place, but we believe there is space for 10x more of them, in every country, in every currency.

If it costs me nothing to trade into and out of a token of value for exotic currencies, this will be a massive boon to the remittance industry.

The truth about bitcoin remittances is that the digital currency can and already does bring value to the remittance industry.

It's providing a solution for trading into and out of exotic currencies.