Global businesses are confronting significant headwinds as cross-border payment volumes have rebounded to pre-pandemic levels while grappling with the looming challenges of escalating interest rates. Amidst these complexities, Ripple Labs’ latest insights into the shifting economic landscape reveal their crypto-enabled payment solutions as a countermeasure.
Major Pain Points In The Economic Landscape
In their recent exploration, Ripple delved deep into the repercussions of rising interest rates, focusing on their impact on both banks and global enterprises. The 2023 New Value Report states that “nearly half of enterprise respondents cited high-interest rates as a top challenge for cross-border payments.”
With a diverse global impact, interest rate variations can pressure businesses irrespective of their geographical base.
Three crucial pain points for businesses in the current economic environment include. First, there are currency fluctuations that impair growth. According to Ri
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