Migrant workers send on average 200-US$300 home every one or two months. This represents only 15 percent of what they earn, as the rest stays in their host countries.
If blockchain remittance solutions can save overseas Vietnamese, overseas workers between 6 and 9 percent in fees, then in 2019 the net additional remittance received in Vietnam would have been $1-1.5 billion based on the same amount remitted.
The amount of remittances flowing into Ho Chi Minh City soared at the end of the year and reached a record 6.1 billion USD, up to 12% over the same period in 2019.
Today’s economies are increasingly global. The advent of new technology has transformed the standardization, speed and cost of the transportation of goods and information exchange, especially in fintech.
Remittances across the world could decline by $108.6 billion this year as job losses mount and employers trim payrolls amid a COVID-19 pandemic that has devastated economies,...