I recently had to buy merchandise from overseas and between conversion fees and wire fees, I spent over 10% of the total sum in fees. Oh yeah, it also took a WEEK to get there.
It would have been as expensive as buying / sending ether but it takes 150 times longer. Outrageous.
This hit me hard, as with crypto you can send it all over the world with very little overhead, so I thought, what would it take for businesses to accept crypto ?
The only bottleneck I could think of would be the CEX's, as it happens often that they freeze accounts on a whim etc. But if the CEX is just used as a transition platform, this effect would be pretty mitigated, right ?
So, what would be the hold-back for a business to put that in place ? As far as I understand, there shouldn't be any regulatory issues since it would be the same as buying/selling merchandise trough Tradfi, but there would just be the CEX middleman.