This actually applies to the US as well. Anytime you need to send $1k+ to a stranger the process is a pain in the ass.
> ACH, most bank does not allow send to stranger, and it takes 1~3 days for settlement among those which allow.
> Wire, expensive ~$30 per transaction.
> Paypal/Venmo/CashApp, Schrödinger's fraud trigger you never know it's gonna work or not. Plus they report to IRS so more paperwork during tax season.
> A lot of banks report every transaction of your checking account to credit bureaus.
So stable coin is my preferred way, and luckily among my circle it is widely accepted. Any amount is instant with a few cents fee at most.
I guess Zelle is the replacement. I've sent thousands to strangers with it with zero problems or fees. I don't like it at all because it is private and in my view a way for banks to avoid accountability.
But also zelle isn't really an option if you are anything bigger than a single person business.
Very similar use case but even for smaller amounts. I try to be as free software as possible so USDC is my go to alternative to Venmo/Apple Pay. I would use GNU Taler if it worked with U.S. banks.