Malta’s leading bank rolls out HC Remit cross-border transfer platform
Common payment methods inconvenienced people on several levels. First, they involve third parties who incur additional expenses. Second, the process takes several days to reach the recipient. Finally, it is baffling for unbanked rural residents to receive the funds.
PALO ALTO, Calif. (PRWEB)
July 10, 2021
Cross-border payments have remained the most efficient application of blockchain technologies. Today, remittances contribute to a significant flow of remittances in the developing world, exceeding foreign direct investment and official development assistance.
Premier Maltese Bank is committed Mandate of HC, a HashCash product, for cross-border remittances. Global blockchain development company HashCash Consultants is winning over financial institutions with a wide range of blockchain-powered products and services. Cross Border Money Transfer Software – HC Remit is the most promising of these.
Blockchain technology is revolutionizing international payment methods by providing an efficient, transparent and secure platform to facilitate the process. It enables global financial transactions over a distributed network of computers. It simplifies the entire transaction process by eliminating the middleman and offers nearly instant payment solutions on a global scale while dramatically reducing costs.
“Common payment methods have inconvenienced people on several levels. First, they involve third parties who incur additional expenses. Second, the process takes several days to reach the recipient. Finally, it is disconcerting for unbanked rural residents to receive the funds, ”explains Raj chowdhury, founder and CEO of HashCash Consultants.
HC Remit powered by blockchain addresses all of the issues stated and is highly rated by the global financial institutions and crypto exchanges where it operates successfully to date. The Maltese bank is one of many implementing HC Remit. Prior to that, HC Remit was installed by banks in UAE, Singapore and Australia.
The money transfer instrument features self-executing programs superimposed on a blockchain that perform designated tasks when conditions are met.
“HC Remit uses smart contracts that automate critical business processes. It also guarantees secure and authentic transaction management, ”adds Chowdhury.
Malta is a well-known crypto-friendly developed economy known to provide a safe haven for crypto-focused businesses that are banned from operating in certain countries. Malta, however, does not recognize crypto as legal tender.
Financial institutions have a lot to gain from implementing this alternative mode of fund transfer which has the potential to uproot its predecessor flawed technologies. Blockchain-enabled platforms bring profitable, instant and verifiable money transfer transactions.
HashCash is a global software company. HashCash Blockchain products allow businesses to move assets and settle cross-border payments in real time for remittances, trade finance, payment processing, and more. HashCash operates a US-based digital asset exchange, PayBito & digital asset payment processor, BillBitcoins. HashCash Offers personalized exchange and payment processor software solutions, ICO services, and custom use cases. HashCash is propelling technological advancements through Blockchain1o1 programs and its investment arm, Satoshi Angels. HashCash offers AI, Big Data and IoT solutions through its platforms, products and services. HashCash solves the toughest challenges by executing innovative digital transformation strategies for customers around the world.
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