According to a report by CoinLaw, blockchain is becoming an important pillar of global finance, especially in the field of cross-border payments. Blockchain-based transactions are growing by 45% each year and are expected to reach 3 trillion USD by 2025. Transaction fees have decreased by 70%–80% compared to traditional systems, with processing times reduced to just 3 seconds – 10 seconds instead of 2 days – 5 days. RippleNet currently processes over 15 billion USD each month. More than 120 countries are developing central bank digital currencies (CBDC), while 40% of global remittance companies and 85% of banks in America have adopted blockchain. Visa and Mastercard have processed over 5 billion USD in cryptocurrency transactions this year. El Salvador, Nigeria, Argentina, and Turkey have recorded a rise to the sky in cryptocurrency usage, thanks to inflation and the demand for more efficient international remittances.
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