# Is crypto providing faster payment rails or better remittance services?
Since crypto assets [cannot function as a currency](is-bitcoin-currency.md) they are not useful in building payment rails or remittance services. Crypto assets can be used as an intermediate asset in which trades can be settled in, but this does not serve a technical of financial purpose; it simply introduces an unnecessary conversion step.

If a person wants to send money abroad, say from US dollars to Indian rupees they would typically use a service like MoneyGram or WesternUnion. These services charge a transaction fee and do a direct swap of dollars to rupees from the reserves the company holds in both currencies.

If one postulates using a crypto asset or stablecoin as a means to do remittances then they are still faced with the *last leg problem*. Their relative in India still has to convert the crypto asset into the local currency to buy domestic goods and services since supermakets and stores don't accept crypto assets. So instead of a dollar-to-ruppee conversion we would hypothetically do a dollar-to-bitcoin-to-rupee conversion. This introduces [price-risk](../concepts/price-risk.md), [counterparty-risk](../concepts/counterparty-risk.md) and unnecessary conversion fees to accommodate the extraneous third exchange. This adds unnecessary complexity and is likely more expensive.

See industry analysts describe this proble in more depth: [Does Bitcoin/Blockchain make sense for international money transfers?](https://www.saveonsend.com/bitcoin-blockchain-money-transfer/)

## References
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