[Joint Seminar] Why are international money transfers so time-consuming and costly? – The potential of using digital assets in trade settlements –

Have you ever experienced difficulties sending money to overseas business partners?

In the field of international trade, the burden of remittances and settlements is chronic: payments are requested but not received, transactions are not completed in time for the end-of-month closing, and it's impossible to predict in advance how much the fees will be deducted.

Due to the involvement of banks in the other country, intermediary routes, and time differences, the verification process alone can often take several days.

In recent years, payment methods using blockchain technology have been discussed domestically as an option for international money transfers.

However, many companies express concerns such as "I don't understand how it works," "I can't explain it internally," and "I'm worried about how it will be positioned legally," and many cases end up stalled at the very beginning of the consideration process.

In this seminar, BitTrade Co., Ltd., a cryptocurrency exchange operator, and STANDAGE Co., Ltd., which handles trade operations on behalf of other companies, will provide explanations from their respective perspectives.

In the first half, we will outline the mechanisms of international money transfers, the overview of payments using digital assets (such as stablecoins), their legal and regulatory status, and general accounting and tax considerations.

In the second half, we will introduce the challenges currently arising in the field of trade, the current status of the initiatives being pursued by both companies, and anticipated application scenarios.

[Main lecture contents]

• How SWIFT transfers work and why they are time-consuming and costly.

Overview of payments using digital assets (stablecoins, etc.)

- Clarification of legal and regulatory positioning and general accounting and tax concepts

• The flow of remittances and settlements in international trade, and the challenges that arise there (e.g., confirmation of receipt, fees, risks, time differences).

• Report on the initiatives of both companies and anticipated application scenarios

*Please note that the lecture content is an example and may be changed without prior notice.

This is especially relevant for those who have heard of it but are unsure whether it's relevant to their company.