Free International Remittances In Stable Digital Currencies

How to use the A-EUR stablecoin to transfer value to your family abroad with the MT Wallet without a banking account, cost-effectively or even for free.



Despite being a very relevant market — $200Bn+ per year — remittances are still stubbornly expensive today — up to 15.76% of the amount sent. They are also far from inclusive and characterized by a slow, complex and oligopolistic payment process.

ModulTrade recently integrated the A-EUR stable token into its digital wallet, the MT Wallet, making it possible to send value in A-EUR everywhere, real-time and for free. This is going to change for the better the way users can make remittances.

  • The A-EUR is a stablecoin targeting a 1:1 exchange rate with the Euro currency, which makes it easier to enjoy all benefits of cryptocurrencies (like transparency, security, privacy) while addressing price volatility issues.
  • MT Wallet users can easily send and receive A-EUR for free on their wallet.


What are remittances and how relevant are they?

Remittances constitute a very relevant market — $200Bn+ per year.

Remittances are the private savings of workers and families abroad that are spent in their home country for food, clothing and other expenditures, and which drive the home economy. For many developing nations, remittances from citizens working abroad provide an import source of much-needed funds. Remittances each year run up to more than $200 billion per year. A remittance is sent by a migrant worker to his home country to support his family. For some countries, especially developing countries, remittances make up a large part of their GDP.


How much does sending a remittance cost?

Sending a remittance is very expensive today — up to 15.76% of the amount sent

The global average cost of sending a USD 200 remittance is 7.01% of the amount sent, with Sub-Saharan Africa remaining the most expensive region to send money to (8.97% on average) and South Africa remains the most expensive country (15.76% on average). Banks remain the most expensive type of service provider, with an average cost of 10.53%. With remittances below USD 200, such percentage costs can be even higher.

Currently, it is estimated that at least $32 billion in remittances is failing to reach recipients, due to high transaction fees associated with sending and receiving money internationally.


What are remittances main pain points (besides being so expensive)?

Other remittances pain points include their lack of inclusiveness and the slow, complex and oligopolistic process related to them.

Currently, sending a remittance is:

  • A process that doesn’t serve billions of unbanked people around the world
  • time-consuming process — remittances could take 3 or more days to reach their recipients, as they are manually processed by a limited number of trusted institutions
  • complex process — a single transfer goes through multiple intermediaries until it reaches its final destination
  • An oligopolistic process — in the hands of a limited number of trusted institutions processing remittances across borders


How can I conveniently and cost-effectively make remittance in A-EUR?

Imagine that you want to send 50 Euros to a relative abroad.

With the MT Wallet you can send value in A-EUR everywhere, real-time and for free.

Your relative could receive 50 A-EUR real-time, without converting them into local currency and losing a massive percentage to fees.

You would just need the recipient’s e-wallet address to transfer 50 A-Euros from your MT Wallet and:

  • It would happen in a matter of secondsfor free (you wouldn’t be charged any fee)
  • The transaction could be easily tracked by the recipient or by yourself 24/7 with Etherscan
  • Unlike a credit card transaction, none of your personal data would be involved (no identity theft risk)
  • Your payment would be P2P (between you and the recipient) over the blockchain, no third parties involved (greater confidentiality and privacy)
  • Upon receiving your payment, the recipient would have the freedom to choose between:
  • having the A-EUR converted into fiat currency on his banking account
  • storing the A-EUR on his MT Wallet and make other payments in A-EUR when needed


In this second case, the transfer of value would take place completely for free!

Is a banking account needed?

No. As long as you don’t want to exchange into fiat currency, you don’t need a banking account to receive the payment, which also means:

  • No need to maintain a banking account in Euros or to have the money converted into local currency
  • No need to be subject to a bank’s terms & conditions (and fees)


How can I send A-EUR to someone in practice?

You can find detailed step-by-step instructions in our pdf guide. From it, you will also learn how you can take out loans instantly without a credit check in A-EUR, how to earn money by depositing your A-EUR and how you can buy or sell products for A-EUR on MT Market.


You can access our guide here.

Ready to take a try? Click here to start!


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