What is MuralPay? MuralPay is a global payments platform that aims to make international payments faster and more efficient for businesses, especially those handling payments for contractors and vendors worldwide. It utilizes blockchain technology to enable quick and compliant cross-border payments, allowing companies to avoid the delays and costs associated with traditional wire transfers.
How does MuralPay work? MuralPay provides a comprehensive payment infrastructure that supports multi-currency invoicing, virtual accounts, and instant settlement in over 20 currencies. It boasts a remarkable 95% same-day settlement rate, making it an attractive solution for businesses seeking efficient global payment options.
How Does MuralPay Compare to Traditional Banking?
How does MuralPay's speed and cost compare to traditional banking? MuralPay offers significantly faster transaction speeds and lower costs compared to traditional banking systems. Traditional banks often take several days to process international transfers, while MuralPay enables near-instantaneous payments by bypassing multiple intermediaries.
What about transaction costs? MuralPay reduces fees by eliminating intermediaries and correspondent banks, which typically add significant charges to traditional cross-border payments. Studies indicate that blockchain technology could reduce cross-border and foreign exchange payment fees by up to 80%, with financial institutions potentially saving billions by 2030 through blockchain settlements. MuralPay’s use of stablecoins prevents cryptocurrency volatility while maintaining blockchain’s cost advantages.
Comparison Table: MuralPay vs. Traditional Banking
| Aspect | MuralPay Blockchain Payments | Traditional Banking Systems | |
