Vision & Mission
SUSTAINABLE DEVELOPMENT GOAL 9
Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation
BRINGING FEES TO NEAR ZERO
Poor economic opportunity has pushed over 164 million people globally to move away from their families and homes in search of work. 800 million individuals rely on the remittance money those migrant workers send back. In 2018, $689 billion in remittances were sent around the world; in 30 countries, remittances comprised over 10% of their GDP. Sending remittances internationally costs, on average, 7% of the amount sent, meaning a staggering $48 billion per year is taken away from the global poor. That money would go a long way in reducing global poverty.
By reducing the costs of international money transfers to near-zero, ARYZE is building an infrastructure that will allow that $48 billion to reach the digital pockets of migrant workers’ families. That money will boost local economies in low income regions around the world, diminish global income inequality, and help solve the imperative objectives of the UN SDG goal #9.