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View all search resultsMigrants in UAE turn to crypto to send remittances home
"I do it at home from my mobile phone and the money is sent within seconds."
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M
uhammed Bilal used to have to wait his turn outside a money transfer office in the scorching heat of Dubai to send home US$1,000 to his wife and parents in Pakistan each month, at a cost of about $7 per transfer.
He has since switched to an app that allows him to send money instantly with no transfer fees, joining a growing number of migrants in the United Arab Emirates using cryptocurrencies and blockchain services to send remittances quickly and cheaply.
"Now, I don't need to wait in queues," said Bilal, a 27-year-old customer service agent.
"I do it at home from my mobile phone and the money is sent within seconds."
