Coinbase encourages the use of digital currency to eliminate bank fees
EFE (via 14ymedio), San Francisco, 21 June 2024 — On Thursday, the cryptocurrency trading platform Coinbase launched a campaign for Latinos living in the United States to choose to send free and immediate remittances through its services in the digital currency USD Coin (USDC), avoiding transfer fees.
“Too many families believe that the traditional financial system does not work for them. Products such as USDC Transfer and Coinbase Wallet have become known because they offer people a cheaper and more accessible option,” said Coinbase’s policy director, Faryar Shirzad, in a statement after the audiovisual campaign they disseminated on their networks
USDC is backed by US dollars and has been available since December 2023; Coinbase Wallet, since August 2018.
One in eight Americans currently sends remittances with a total annual expense of $12 billion in commissions
According to this company, based in San Francisco (California), one in eight Americans currently sends remittances with a total annual expense of $12 billion in commissions and facing an average wai