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⍰ ASK Can electronic money institutions facilitate international remittances, and what regulatory approvals are required?

Electronic money institutions (EMIs) can help make sending money across borders quicker and cheaper compared to regular banks.

EMIs use online platforms and smart financial technology to make international transfers easy. With just a few clicks on a computer or a mobile app, users can send money internationally. Because it's all digital, the process is fast, and the money gets to the other person quicker than using traditional methods.

EMIs also team up with massiveglobal payment networks and use blockchain technology to make international transfers even speedier and more transparent. These partnerships help EMIs connect with banks and financial institutions worldwide, making sure money flows smoothly between countries.
 

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