The Bank of International Settlements (BIS) has shed light on the true extent of Bitcoin's impact on cross-border payments.
A new study conducted by the Bank of International Settlements has shed light on the true extent of Bitcoin's impact on cross-border payments, revealing that its significance may be even greater than previously believed. , the findings challenge conventional assumptions and underscore the growing relevance of Bitcoin in the global financial landscape.
Details about the proprietary system were not provided by the report. Notably, however, it did acknowledge that its data is likely imperfect given it remains possible to use Bitcoin anonymously and without identification. Moreover, the study revealed that Bitcoin was increasingly being used for remittances, providing a lifeline for individuals in regions with limited access to traditional banking services. Its borderless nature and ease of use made it an attractive option for sending funds across international boundaries.
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