What is Universal Money Address?
UMA uses the Bitcoin Lightning Network for fast, low-cost, and efficient payments. Like SMTP, UMA enables a user experience that allows people to reliably send and receive money 24/7 in the currency they choose.
Problem
Transferring money globally is often slow, expensive, and complex due to intermediary banks and financial institutions. Users face issues like high transaction fees, long processing times, and limited operational hours, leading to frustration and inefficiency in international payments.
Solution
UMA is a digital platform that utilizes the Bitcoin Lightning Network to enable fast, low-cost, and efficient payments globally. It offers a user experience similar to email, allowing individuals to send and receive money 24/7 in their preferred currency, simplifying the process of international transactions.
Customers
Individuals and businesses looking for a more efficient, cost-effective way to make international payments. Freelancers, expatriates, and small to medium-sized enterprises (SMEs) who regularly engage in cross-border transactions would particularly benefit from using UMA.
Unique Features
Uses Bitcoin Lightning Network for fast transactions, Offers low-cost international payments, Enables transactions 24/7 in the user's chosen currency, Provides an email-like user experience for financial transactions.
User Comments
Not available
Traction
Not available
Market Size
The global digital payments market was valued at approximately $5.44 trillion in 2020 and is expected to reach $11.29 trillion by 2026.
