- “Pay by Phone” attribute to make the process “as easy as sending a text”.
- Fifteen regions around the world can make use of this feature.
Stellar’s Vibrant Wallet is easing out the international remittances process. The digital transaction platform Stellar is one of the pioneers in cross-border digital transactions. And now they have come up with a “Pay by Phone” attribute to make the process “as easy as sending a text”.
Pay by Phone is specially designed to make remittance money transfers easy. And the receiver need not have a bank account for it. “Banking the Unbanked” is not their motto; it’s more about giving all TradeFi and DeFi benefits to the unbanked too.
Vibrant users can make transactions in Stellar assets such as USDC, ARST, and XLM. The transaction fee is “nil” for all the transactions they are going to do. Fifteen regions around the world can make use of this feature, which includes the US, Mexico, Argentina, Ukraine, El Salvador, Costa Rica, and Uruguay.
Remittances in many developing countries are fighting poverty. Developing countries are getting a better financial situation due to it. And Stellar is working to build international stability in commerce. Unlike other corporations, the Stellar Development Foundation uplifts human living conditions.