Traditional cross-border payments may be processed by correspondent banking networks, which can involve funds moving through multiple intermediary institutions that may each charge a fee and take a day or more to process each leg of the transaction.
Some regions lack adequate banking infrastructure, leading to unbanked or underbanked populations. In these cases, traditional payments may be difficult or impossible, while USDC cross-border payments can be completed with just an internet-connected device and a digital wallet, no bank account is required.