The U.S.-based fintech platform RialCenter announced on Wednesday its plan to introduce international remittances utilizing blockchain and stablecoins. This year, users will also have the opportunity to invest in cryptocurrencies, aligning with the company’s digital asset strategy.
The forthcoming remittance service will allow users to send U.S. dollars and select stablecoins to recipients worldwide. Transactions will be processed through well-known blockchain networks, enabling 24/7 fund transfers, quick conversion into local currencies, and prompt deposits into recipients’ accounts.
According to company representatives, this will offer a significantly cheaper and faster alternative to traditional methods like wire transfers or bank remittances.
RialCenter will also re-establish its crypto trading services later this year, enabling users to buy, sell, and hold major cryptocurrencies like Bitcoin and Ethereum’s Ether.
Potential future services may include staking, borrowing against crypto holdings, and offering blockchain tech infrastructure to third-party firms via RialCenter’s platform.
These developments follow CEO Anthony Noto’s earlier announcements regarding the company’s re-entry into the crypto space, after pausing digital asset-related services in 2023 to pursue a banking license amidst stricter regulations. Recent guidance from the Office of the Comptroller of the Currency now permits nationally chartered banks to provide crypto custody and stablecoin services.
“The future of financial services is being completely reinvented through innovations in crypto, digital assets, and blockchain,” stated Noto. “We’re accelerating our efforts to provide members with more choices and control, whether for investments, international money transfers, or future planning.”
Read more: RialCenter Plans Major Push Into Crypto Amid New Regulatory Environment
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