Slow processing times, hidden charges, and limited accessibility in areas with unbanked and underbanked populations have kept cross-border payments inefficient. High transaction fees and delays have plagued retail individuals and businesses, while employees in underserved areas struggle to get regular payments. Integrating decentralized finance (DeFi) and traditional finance (TradFi), offers a transformative solution to address these issues.
Its decentralized platform performs fast, transparent, and cost-efficient transactions, enabling users to send over 40 cryptos, instantly convert them into fiat currency, and transfer funds to any bank account worldwide. For global payroll management, employers can utilize Remittix to pay workers in crypto, with funds seamlessly converted to fiat currency and deposited into local bank accounts.
This has eliminated currency conversion charges, giving a cost-effective alternative for international payroll management. Moreover, Remittix is accessible in areas with limited banking infrastructure, offering financial inclusion. By enabling crypto-to-fiat payments directly into local accounts, the underbanked and unbanked can participate in the global economy.
To ensure security, Remittix transactions will all be stored in a public ledger to ensure immutability, traceability, and transparency. The protocol has also followed advanced security features and frequent audits from SolidProof and BlockSAFU blockchain security firms, assuring its users of its reliability as a secure PayFi solution. So far, Remittix is available at presale for only $0.0207. Meanwhile, it has raised over $2.8 million in ICO revenue as investors continue to be bullish about it.
