High remittance costs are primarily caused by two things: exchange rates and KYC/AML compliance. I don't see how this would address either of those things. Eve

High remittance costs are primarily caused by two things: exchange rates and KYC/AML compliance. I don't see how this would address either of those things. Even with large & relatively liquidity cryptocurrency the spread to covert to local currency is large. Right now if I want to get rid of a Bitcoin and get Vietnamese Dong I see rates from 89,286,016.80 to 90,135,312.89. The actual price according to Google is 93,851,364.64. So you're losing 4%, which is already comparable to a traditional remittance (the World Bank says 5% is the average cost for educated users). Except this new cryptocurrency would be less popular and less liquid than Bitcoin, so the spreads would be higher.