Remittix Tests Crypto-to-Bank Payments with PayFi Product
The Stellar network has been processing payments at an unprecedented scale, making it a benchmark for other crypto projects. Remittix is trying to improve on this by creating a seamless flow from cryptocurrency to fiat bank payments.
Remittix's PayFi product is designed to handle the conversion and payout in the same journey, eliminating the need for multiple transfers. The first 1,000 testers are existing RTX holders who can convert their crypto into EUR or USD through compatible banking routes.
The potential revenue from repeat transfers could be substantial, with global remittances running into hundreds of billions of dollars annually. If Remittix succeeds in making the final step of a payment effortless, it could become part of people's routine, not just another transfer option.