![]() ![]() Money transfer meets Decentralized FinanceĪs DTransfer begins to establish itself as a viable cross-border payment platform, we continue to push forward in order to improve usability, security and overall user experience, as well as adding innovative features.įuture iterations will introduce interest payments on balances held with DTransfer, in contrast to banks which pay little to no interest or even charge fees for holding balances under certain conditions.Īdditionally, we are aiming to support foreign currency exchange for our transfer by using Decentralized Finance (DeFi) deposits, as they incentivize providing liquidity required by high-volume decentralized currency exchange. The Stellar ledger software runs on hundreds of independent servers distributed around the globe, and its open source code receives continuous audits and updates by various stakeholders and users. The underlying Stellar blockchain network has proven extremely reliable by securely storing and transacting assets worth billions of dollars. This results in higher security and fault tolerance. Increased security: Compared to the traditional correspondent banking model, DTransfer cross-border transactions involve fewer trusted parties.This means DTransfer clients will be able to easily sign up to other financial services with a few simple clicks. Compliance network: With our global multilateral compliance partnership kicked-off, banks and businesses that comply with international regulations and the quality standards of DTransfer are eligible for joining the global DTransfer compliance network and share Know Your Customer data.Not even DTransfer can move their funds without approval by the client! Safe storage: Our business clients keep sole custody over account balances kept in their DTransfer vault.Always know in real-time where your money is located and who is processing it. Tracking: Follow your transfers like a package delivery.Currency exchange: Included in each transaction and decoupled from the banking partners, as it happens independently on the blockchain by exchanging stable coins.All features aim to contribute to our main advantages: speed, cost, and transparency. In addition to that, transfer money was credited in Tanzania already a few minutes after hitting the send button.” The DTransfer advantageĭTransfer’s initial Beta service offers some robust features that will continue to evolve as our solution grows. We now enjoy the same currency exchange rates as big banks do for inter-bank transfers. We see the transfer fees and currency exchange rate prior to initiating the transfer, which adds a great level of transparency and fairness. Reiffenstein comments: “We have recently signed up with DTransfer and judging from the first transactions we've made, the results are very promising. In order to maintain and build its empowering position in supporting the Sub-Saharan economy, UHURU Microfinance has integrated DTransfer to help facilitate international payments. The rapidly growing Sub-Saharan African economy lacks the necessary financial relationships and infrastructure to properly leverage the progress. UHURU Microfinance is working to build a more inclusive financial system in Africa by connecting international investors and local microfinance providers. Money transfers resemble pretty much a black box for us, as we have no choice or influence over the outcome.”Īndreas Reiffenstein (bottom right) discussing UHURU Microfinance We are waiting days for transfers to complete, high transaction fees increase our operating costs and the offered exchange rate between Euro and Tanzanian shilling is far from competitive. The lending platform UHURU Microfinance is among the first businesses to use our money transfer service.Īndreas Reiffenstein, founder and CEO of UHURU Microfinance Consulting GmbH explains: “We encounter constant pain points when working with traditional banks to send money to Tanzania. In the early stages of testing DTransfer during our closed alpha we received very positive client feedback. We have successfully connected our instant payment platform to banking networks in Europe, US, Mexico, Nigeria and Tanzania and are in the process of connecting to further local bank networks, mainly in Europe, Asia, Africa and the Americas. ![]() DTransfer establishes a new standard for moving money around the globe with a focus on speed, cost efficiency and transparency. ![]() Utilizing blockchain technology and the Stellar network in particular to connect instant banking networks, DTransfer is able to facilitate instant cross-border payments for businesses. Digital, direct and decentralized payments for instant transfersĭTransfer aims to revolutionize the global payment industry, paving the way for a radically modernized international banking system.
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