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“You ship cash that you simply see as {dollars} from the US, and it’s acquired on the opposite aspect. They obtain it of their native foreign money, both in a financial institution or in a cell account,” explains Manuela Rios, Strike’s vice chairman of product. Rios, who joined Strike from Robinhood Markets in December 2021, is aware of the problem of remittances intimately. Her grandmother lives in Colombia, and Rios describes having to leap via costly or advanced hoops yearly to ship her abuela a easy reward of birthday money.
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