Sentences with phrase «fiat money transactions»

The rest will go into establishing the margin loan insurance fund, acquiring the necessary licensing for simplifying the fiat money transactions and covering marketing expenses.

Not exact matches

They generally don't have a preference on whether transactions use fiat or crypto money.

«Our BOSS Revolution international money transfer business routinely utilizes digital assets to generate liquidity in fiat currencies for our disbursement agents as part of our transaction settlement process,» said Alfredo O'Hagan, senior vice president of IDT's consumer payments business.

The system will help people around the world donate their fiat money with zero transaction fees.

Since is is backed by an actual fiat currency, it allows the users to move their preferred fiat money in and out of a certain exchange efficiently and in a cheaper transaction rate.

The transaction works the same in the reverse: if a recipient needs or prefers to receive a payment in bitcoin, but the sender prefers to deal in fiat currency, the sender can add money to their Abra wallet using their bank account or a local Abra Teller and then send their fiat currency directly to the recipient's bitcoin address, even if the recipient does not have an Abra wallet.

«We will only process fiat currency - based transactions,» he said, referring to currencies that are issued by governments as legal money, such as the U.S. dollar.

The commission is usually 6 % and may vary as per the country to which money is transferred and the fiat currency used for the transaction.

This method has clear advantages: you can transfer crypto directly to a debit card and then make any transactions you could do with your regular card, or you could simply withdraw your fiat money from any ATM.

To circumvent the law (gambling is illegal in China) people were using play money poker sites to set up real money games using play money in exchange for fiat currency transactions away from the tables.

Fiat money transaction speed With the help of the built - in payment agent, the crediting time for fiat funds will only take several minutes.

GrowPayment is leveraging the technical challenges of the cannabis industry and cryptocurrency economy to develop a multivendor marketplace for marijuana related products that supports both fiat money and cryptocurrency transactions.

If you're spending money through Revolut's debit card and run out of fiat currency, it will automatically convert the necessary amount of cryptocurrency to fiat to fund your transaction.

These transactions could be either exchange of one cryptocurrency for another or exchange of cryptocurrency for fiat money.

People choose the way of transaction, and in most cases, the commission in fiat money will not have to pay.

It is technically possible to accomplish this much the same way as the majority of bitcoin commercial transactions work in practice: by instantly converting what the merchant receives into fiat currency, the real money still making this exchange possible.

from the Virginia Bureau of Financial Institutions informs residents that the Money Order Sellers and Money Transmitters codes do «not currently regulate virtual currencies; however, to the extent virtual currency transactions also involve the transfer of fiat currencies.»

«When it comes to money laundering or terrorism financing, Singapore's laws do not make any distinction between transactions effected using fiat currency, virtual currency or other novel ways of transmitting value.»

Assuming Bitcoin is adopted for number of practical applications, the value will rise significantly — moving money around the world can be costly and time consuming — Using Bitcoin is fast, efficient and cost effective and transactions can be confirmed in a matter of minutes vs up to 7 days for normal FIAT currency transactions plus the cost of transaction.

This solution enables physical store owners to use either cryptocurrency or fiat money to complete transactions on the blockchain.

Now that the transaction process is direct from fiat money to litecoin, the need for BTC tokens will be reduced.

Singaporean laws do not make any distinction between transactions involving fiat currencies and cryptocurrencies like bitcoin under money laundering and counter-terrorism financing laws, the country's deputy prime minister said yesterday.

«When it comes to money laundering or terrorism financing, Singapore's laws do not make any distinction between transactions effected using fiat currency, virtual currency or other novel ways of transmitting value... Hence, MAS» AML / CFT requirements apply to all activities of financial institutions, whether conducted in fiat or virtual currencies.»

In cross-border transactions involving multiple currencies, the exchange of fiat currency to Lumen and vice-versa allows consumers and businesses to send and receive money across borders, faster and cheaper than traditional payment services.

To him, decreasing bitcoin transactions is a sign of people understanding bitcoin is «good money» (as opposed to government - backed fiat currencies).

Eco is in it to win it and is designed to go head - to - head with bitcoin, gold and fiat money for daily global payment transactions.

The continent has seen a growing number of mobile money platforms like M - Pesa, enabling digital transactions using fiat currencies.

One could think that Bitcoin's primary purpose should be to replace fiat money for transactions.