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Wednesday, April 24, 2024
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EXCLUSIVE: Crypto Payments Here To Stay, Solana Exec Says: 'US Risks Losing Talent'

The future of crypto payments is not just a possibility but a current reality actively reshaping financial transactions worldwide, according to Austin Federa, Head of Strategy at Solana (CRYPTO: SOL) Foundation.

Federa's insights, shared ahead of Benzinga's Future of Digital Assets conference slated for Nov. 14, reveal a significant shift in the economic landscape, driven by the efficiency and cost-effectiveness of blockchain technology.

Federa said the movement of funds across borders, traditionally laden with fees and intermediaries, stands to be revolutionized by cryptocurrency.

"Crypto payments can move anywhere from 10 cents to $10 million anywhere around the world in a fraction of a second for $0.0005," Austin said.

This innovation is particularly disruptive for smaller transactions, where traditional fees can take a significant percentage of the transfer.

The integration of crypto payments into mainstream financial systems is advancing, with major players like Visa (NYSE: V) building on the Solana blockchain to facilitate 24/7 settlement of transactions, a move, that indicates a significant step toward reducing the risks and delays inherent in ...

Full story available on Benzinga.com


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