Cross-border payment is a process that looks simple and understandable, but the actual operation is time-consuming and laborious. When consumers purchase products or services from foreign merchants, due to the currency differences between different countries, they need to use certain settlement tools and payment systems to achieve capital conversion between the two countries. These include multiple information processing nodes such as banks, third-party payment platforms, custodians, cooperative banks, domestic buyers, and overseas sellers. The payment process is complicated and the efficiency and cost of information transmission are relatively high.
Take Western Union, the world's leading express money transfer company, as an example. Even if it has the world's largest and most advanced electronic exchange financial network, in terms of cross-border payments, the fastest time to reach the account is 2 to 3 days. If ordinary bank wire transfers are used, it will take 3 to 7 days to wait. And the cost incurred per transaction is $ 30-40.

The birth of blockchain technology has disrupted the way businesses and individuals handle financial transactions globally. According to Gartner Inc. data, the commercial value added of blockchain is expected to grow to 1760 by 2025 One hundred million U.S. dollars. Among the many blockchain application scenarios, payment applications are undoubtedly one of the most concerned areas. As a traffic entrance for many application ecosystems, the advantages of blockchain + payment in the cross-border payment field are particularly obvious.
The blockchain solves the shortcomings of traditional cross-border payment systems by simplifying the process and storing each transaction in a secure distributed ledger. Once the transaction is recorded, the recipient can get paid with no intermediaries, no delays, and no unnecessary fees. Once payments are posted, they cannot be reversed or changed in the ledger, increasing overall accountability and security.
The blockchain-based cross-border payment system does not need to pay transfer fees to multiple parties. For organizations that frequently conduct international transactions, the estimated transaction costs are reduced by 40% to 80%. At the same time, blockchain cross-border payments can be completed in an average of 4 to 6 seconds (the current transfer process takes 2-3 days).
Traditional cross-border payment methods are easily disrupted when kept by a centralized institution such as a bank. If that permission is attacked, corrupted, or taken offline, the user's data may be compromised. Using blockchain technology, all transaction records are protected by encryption, tied to previous transactions, and distributed among participants in the ledger. To tamper with the data, hackers must modify all early transactions in the ledger-which makes the blockchain almost impossible to crack.

The ZERO3 International Settlement Center relies on the advantages of global industry alliances to open up a broad space for the implementation of blockchain cross-border payment in application scenarios.
As a dedicated cross-border payment application platform for global blockchain, ZERO3 has in-depth layout in the field of blockchain + payment, and launched a cross-border payment transaction platform based on blockchain technology-Zero stable digital asset trading platform. Applying the new digital global payment token based on blockchain technology-EUZ, to create a blockchain-based technology that serves global cross-border payments, focusing on the standardization of an international small and high-frequency transaction, a highly efficient and compliant settlement ecosystem with a view Provide inclusive, secure, efficient, and convenient new cross-border payment services for global small and medium-sized financial participants such as cross-border e-commerce, remittance companies, and ordinary consumers.
Traditional financial payments are evolving, and blockchain cross-border payments are improving the underlying settlement efficiency. As a pioneer in the application of blockchain technology, ZERO3 International Settlement Center helps the application of blockchain technology in the cross-border payment field, bringing efficient, convenient and lower-cost cross-border payment services to more enterprises and individual users. .