To elaborate on the sibling comment, my understanding of Wise's mechanism from having used it is something along the lines of: - they establish local accounts

To elaborate on the sibling comment, my understanding of Wise's mechanism from having used it is something along the lines of: - they establish local accounts everywhere - a transfer is you send money locally to their account, and then they send money from another local account to your destination - they take some (small) mark-up over the actual rates - they aggregate the many smallish transactions to exchange with optimal rates and fees for themselves, and probably do a bunch of stuff around mitigating risk of having too much float in a particular currency It's a model that impressed me when I used it, relatively simple conceptually but solved a big pain point. Not sure that crypto adds much other than offloading risk (of exchange rate fluctuations) onto the person doing the transfer - I quite like that wise essentially bears that risk