The way we send money around the world is changing dramatically. For decades, international money transfers meant high fees, long waits, and complicated processes. Today, Sling Money is offering a revolutionary alternative.
The Evolution of International Money Transfers
International money transfers began with services like Western Union, where customers had to visit physical locations, pay steep fees, and wait days for money to arrive. Then came digital platforms like Wise, which improved the experience but still relied on traditional banking infrastructure.
Despite these improvements, the global remittance market remains massive - over £2 trillion moves across borders annually by individuals, with traditional services capturing most of this volume.
Enter Sling Money
Sling Money represents the next evolution in global payments, leveraging blockchain technology to make transfers nearly instant and remarkably affordable across approximately 150 countries with a combined population of 2.9 billion people.
What makes Sling different:
- Self-custodial wallets: Users maintain complete ownership of their funds
- Blockchain-powered: Transactions occur on the Solana blockchain, enabling speed and low costs
- Stablecoin integration: Utilizing digital currencies like USDC, USDP, and now EURC
- Near-instant transfers: No more waiting days for money to arrive
How does Sling Work
Sending money through Sling is surprisingly simple. When you add money to your Sling Wallet, it's converted to digital currency. Transfers happen directly on the blockchain - this is what enables instant, low-cost transfers worldwide.
The experience feels local, even when it's global. A user in Portugal can convert euros to EURC, send money to Brazil, and the recipient receives reals in a USDP-backed wallet—all within seconds. If someone sends you USDP, you automatically receive EURC at mid-market exchange rates.
Regulatory Milestone
Sling Money recently achieved a significant regulatory milestone. Avian Labs Netherlands B.V., Sling Money's European entity, secured a Markets in Crypto Assets Regulation (MiCA) license from the Netherlands Authority for Financial Markets. This makes them just the fifth Dutch company to receive this authorization.
As part of this development, European users will now use EURC (Circle's euro-backed stablecoin) as their underlying digital currency, keeping balances natively in euros.
Beyond Peer-to-Peer Payments
While starting with person-to-person transfers, Sling has ambitious plans:
- Make more transactions completely on-chain (free and instant)
- Enable everyday merchant payments through debit cards
- Integrate with emerging technologies like Solana Pay
The Business Model
Despite offering significantly lower fees than traditional services, Sling has built a sustainable business model:
- Transfers between Sling Wallets are completely free
- Fees are charged only when converting between fiat currencies and stablecoins
- Target pricing is half or less than traditional money transfer services
- Additional revenue comes from yields on stablecoins and premium features
Sling Money launches in the US on November 14th, bringing its vision of effortless, instant, and nearly free global payments to even more users.
In a world that's increasingly connected, Sling Money is building the financial infrastructure to match - making money truly borderless.