Cryptos Bring Enhanced Security and Faster Speeds to Cross-Border B2B Payments. Blockchain-based payments could make up almost 10% of all B2B cross-border payments by 2024, per Juniper Research data. The payment method offers greater transparency and traceability for cross-border transactions.
And reducing volatility helps make customers more comfortable with placing cross-border transactions, in turn increasing payment volume for providers. Crypto startups are breaking into the market by taking advantage of the need for improvement in the industry. Cross-border payment firm Ripple uses its digital asset XRP to send remittances on its payments network RippleNet.