South China Morning Post
AsiaPac · 48 mins ago
✦ 72◉ Centre
Iran war pushes Asia’s Gulf migrants to use stablecoins for remittances
72Credibility
0Ratings
0Comments
AI Analysis
Credibility 72/100
Partisan intensity 35/100
ObjectivePartisan
◉ Centre ✓ Fair headline
Asian migrant workers in the Gulf are exploring stablecoins as an alternative remittance channel due to concerns that potential US sanctions related to Iran tensions could disrupt traditional money transfers that are economically significant for several Asian countries.
Iran war pushes Asia’s Gulf migrants to use stablecoins for remittances
Asian migrant workers in the Gulf are testing stablecoins as a backup channel for sending money home, as the Iran war heightens fears that the risk of US sanctions could disrupt remittances that millions of families and several Asian economies rely on.
Remittances from these workers account for 3 per cent to 5 per cent of gross domestic product in several emerging markets – in Nepal, it is as high as 10 per cent, according to data from the Global Settlement Network.
Concerns over remittance...
Discussion 0 comments
Sort:
?
No comments yet — be the first to start the discussion!