RATE Group | Survey: Indian Remittance Market Ripe for Cryptocurrency Adoption
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Survey: Indian Remittance Market Ripe for Cryptocurrency Adoption

29 Oct Survey: Indian Remittance Market Ripe for Cryptocurrency Adoption

Posted at 13:56h in Cryptocurrency News by

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A new survey by Dash India and Remit Dash reveals that a significant portion of Indians are unsatisfied with the fees and lead times of remittances, but many Indians still have not tried to use cryptocurrencies despite having heard of the technology.

The Indian remittance market totals $70 billion USD a year with the average transaction rate above 5.5%, which is around $4 billion USD alone. Four specific survey questions illustrated just how expensive remittances are and how long they take to process, which has caused many Indians to be dissatisfied with currently available services.

Source: Dash India Survey https://www.dropbox.com/s/adfhuudfw6eucm5/Remitdash_ResearchReport_India.pdf?dl=0

Source: Dash India Survey https://www.dropbox.com/s/adfhuudfw6eucm5/Remitdash_ResearchReport_India.pdf?dl=0

Supreet of Dash India told Dash Force News how their overall goal was to gain insights into the Indian remittance market to better aid future cryptocurrency integration.

“The…

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