Introducing Global Money Transfers with Simple.App!
We have some exciting news to share with you! Simple.App now offers a global money transfer feature, allowing you to send and receive funds on a local bank card within minutes. Our initial focus is on providing a fast, efficient, and cost-effective way for Ukrainians displaced due to the Russian aggression on Ukraine to send money back home and or to loved ones in other countries from Ukraine.
In the near future, we have plans to expand our services to more countries as well.
You can already exchange your cryptocurrencies for EUR and convert them to Ukrainian hryvnia when withdrawing to your bank card. With the speed of these transactions, funds can be received on your card in just a few clicks. By leveraging blockchain and cryptocurrency technologies, we are revolutionizing traditional money transfer methods, making them faster and more cost-effective.
So, how it works?
Cross-border transfers are facilitated through the use of cryptocurrency. In a European country, a client purchases USDT stablecoin on the Polygon network using Euros. Since stablecoins are not subject to volatility, Simple then transfers the USDT to their P2P partners in Ukraine, allowing for immediate interaction and avoiding bureaucratic elements that come with traditional bank transfers. Once the partner receives the USDT, they instantly convert it into Ukrainian hryvnia (UAH) and сomplete the payment to the client's bank card. This simple scheme (client purchases USDT, Simple sends USDT to partner's address, partner exchanges and pays out in local currency to client's bank card) ensures a physical transfer for each payment and eliminates the need for loans, bank transfers, and the like.
Regarding transfer fees, thanks to the purchase of USDT through the Polygon network, the cost of one transfer varies from only 1 to 3 cents, regardless of the transaction amount.
At Simple.App, we believe in simplicity, affordability, and accessibility, and our aim is to make it easier for people to send money around the world. We are particularly passionate about helping Ukrainian refugees to support their families back home. With our global money transfer feature, sending money internationally has never been more accessible or affordable.
Try this feature now and stay close to your loved ones. We are excited to bring you this new, convenient way to send money globally.