RemmiteX: Payments Reimagined

The current landscape

The global remittance market is estimated to be around 750 billion USD, but it’s plagued with several issues such as opacity in operations, fees as high as 2%-5%, and settlement periods as long as 2 weeks. DeFi was solving this with Bitcoin. Bitcoin was created as a global electronic P2P payments system, but BTC was seen unfit as a currency due to its volatile nature. However, the concept of decentralized payments proved to be much cheaper, faster, and secure, leading to the rise of stablecoin payments through DeFi.

Although DeFi solves the problems faced by the traditional financial system, it comes with a set of its own issues mainly with its user experience, such as complex addresses and seed phrases, and high gas fees that need to be paid in the native token of the network.

Introducing RemmiteX

RemmiteX is a payments protocol which allows you to send payments globally in multiple fiat pegged stablecoins which you can get with our fiat ramp partners or by depositing from your wallet or using our service Xade P2P in a gasless manner without holding the network’s native token powered by Biconomy through a non custodial wallet genrated for you with your social media accounts powered by Particle Network to any email address, mobile number, Decentralised Identities and more!

The Future

In the future, we are also introducing features of programmable payments such as reccuring payments, reversible transactions, and support spendin on 5000+ e-commerce brands and many more features to reimagine payments.