With its adoption of sophisticated state-of-the-art technology, Aurix is expected to penetrate the global money transfer market and establish itself as an industry leader in the coming years. According to a World Bank estimate, global money transfer and remittances are expected to rise in 2021 as countries recover from the COVID-19 induced global economic recession, which was estimated by the World Bank to be the worst since the second world war.
A simple and friendly user interface, utilization of innovative technology that enhances cheaper and faster international money transfer and crypto transaction makes Aurix well-positioned to benefit from the increase in global money transfer and remittances.
How Aurix will be a game-changer in international money transfer
Aurix is built and developed by a team of savvy engineers led by Majed Mohsen, a computer engineer and “techpreneur” with vast experience in coding, trading, and finance. Aurix was conceived to offer transparent, efficient, fast, and reliable crypto and international money transfer by leveraging tech solutions to offer decentralized finance. This is also with the aim of curtailing the hegemony of the traditional banking system with its outrageous charges and commission on crypto and international money transactions.
Aurix’s undergirding philosophy is simplicity. The company understands that to maximize the massive opportunities to be derived from crypto and international money transactions, tech startups must find a way to make crypto transactions easy and accessible across diverse demographics.
Aurix’s value proposition is the demystification of crypto and international money transactions so that your average Joe, no matter his social or educational standing, can transact cryptocurrency, NFTs, and other digital assets seamlessly the same way he transacts with fiat currency.
Being the new kid in the block crypto transaction, the ecosystem comes with daunting challenges like low liquidity and transaction speed, high commission, transaction complexity, and insecurity. Some platforms plant malware that changes your copied wallet address from the clipboard, causing you to transact with unauthorized third parties who rob you of your cryptocurrency. Aurix’s ecosystem was essentially built as a solution to these and similar problems that may bring up their ugly heads in the future.
Some key features of Aurix international money transfer
- Aurix exchange: This platform allows investors to invest in cryptocurrency without breaking a sweat. Aurix exchange provides a wide range of cryptocurrencies that can be traded through the Aurix app or desktop. The platform was designed with a friendly, easy-to-navigate interface to dispense with unnecessary technicalities. The goal is to provide everyone with a level playing field for crypto investment.
- Aurix card: In a bid to facilitate exchanges between crypto and fiat currencies, encourage crypto transactions, aid global cryptocurrency adoption, Aurix has entered into a strategic collaboration with Visa and MasterCard to power the game-changing Aurix card. Customers can apply for either visa or MasterCard which allows them to earn cashback on daily transactions.
- Aurix app: Like other players in the crypto and international money transfer market, Aurix’s easy-to-access app can be downloaded on the Android play store and ios Appstore. The app allows customers to invest, keep track of their investment, make payments, manage their investment, among other things.
- Aurix token: Holders of Aurix token are entitled to a user’s level upgrade. These upgrades come with substantial rewards and benefits such as discounts on trading fees. The amount of token held determines the rewards users get.
- Aurix shop: eCommerce stores hoping to adopt cryptocurrency can take advantage of the Aurix shop which allows payment to be processed anywhere free of cost.
Opportunities for growth and expansion
According to a world bank estimate, around 1.7 billion people do not have access to bank accounts worldwide. A bulk of these people live in developing countries where robust banking systems that can cover a significant number of people are lacking. This provides opportunities for Aurix to penetrate these markets and bridge the deficit by providing alternatives to the traditional banking system through its easy-to-adopt comprehensive payment system.
While Aurix may find it difficult to find its feet at the onset, a takeover, merger, or acquisition of existing companies with similar objectives that have established themselves in the emerging market will provide the much-needed catalyst for growth and expansion.
Research suggests that developing economies like Zimbabwe, Iran, and Venezuela are key users of Bitcoin. According to Paxful, Nigeria’s bitcoin trade value has been increasing by 19% since 2017. Companies like PayPal are positioning themselves to penetrate these emerging economies as they seem to be the new and largely untapped goldmine.
Successful businesses are created to solve problems. Aurix’s adoption of cutting-edge technology allows it to solve most of the challenges militating against international money transfer and cryptocurrency adoption. Its problem-solving approach is its greatest strength,and it will undoubtedly position it as an industry leader in the foreseeable future.
Brilliant features like Aurix card, shop, token, exchange, app distinguishes Aurix from the rest. Its prospects can be maximized by entering emerging economies and markets, while bureaucratic bottlenecks and poor infrastructure might be a problem to contend with, a collaboration with established companies in the target market will help surmount the problems.