Wise can handle crypto challenges
In her interview with ETTimes, Avila was asked if she thinks cryptocurrencies pose a threat to platforms like Wise, to which she said that “it’s interesting to see the different ways in which this technology is put into practice. by different players around the world” and hinted that the platform does not view cryptocurrencies as a rival technology.
Alvila further spoke about the damage that cryptocurrency investors have suffered recently:
“Today, most people still need to convert between fiat currencies and cryptocurrencies, and these people experience unnecessary friction and expense in the process, which means there are limits to the use of crypto-rails today, as the costs are often prohibitive.”
She thinks “Wise can address some of these challenges” because the platform “focuses on lowering fees every time people move money around the world.”
Currently, you can receive money into your Wise account from a platform that deals in cryptocurrency, but you cannot send money to a cryptocurrency platform.
Innovation and growth in India
Avila was also impressed with India’s innovation and growth, which she considers “very exciting”. “India is home to one of the most connected populations, and people are comfortable accessing digital financial services through their phones,” she added.
India has a strong presence in the crypto world, according to Binance CEO Changpeng Zhao, who also said that “India is a huge market, as well as a technology leader, and will therefore be a favorite natural for web 3.0 startups”. .”