The problem with crypto remittances, and what will be the problem with all crypto until it is solved is the following: One cannot easily buy goods and services

The problem with crypto remittances, and what will be the problem with all crypto until it is solved is the following: One cannot easily buy goods and services with crypto and this is by design. Society today allows countries to have currency controls as a means to solve the impossible trinity problem [0]. If countries allow transactions in crypto and those gain even a small amount of share, the government loses all control over monetary policy since they no longer have currency controls. The implications of this: *Every crypto 'transaction' still needs to go in and out of fiat. Once you're at the point where you're converting fiat to crypto, SWIFT doesn't seem that bad in comparison. *Every crypto transaction carries exchange rate risk (or stablecoin treasury risk) *End users likely only see an abstracted version of the transaction where they don't even realize it's going in/out of crypto, so you as a company are just competing on price (and there's millions of more fun grifts than trying to create a price-competitive crypto remittance service) Ultimately if crypto is going to win in remittances, somebody needs to find a way to make it so compelling for both remittance and domestic transactions that all of Mexico, The Philippines, or China uses it illegally and the government just has to put up with it (a la Uber). [0] https://en.wikipedia.org/wiki/Impossible_trinity https://en.wikipedia.org/wiki/Impossible_trinity