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Webtel.mobi’s Two Fully-Operational Zero-Cost Alternatives to the Global FX Market Available Worldwide

·5-min read

WM’s Currency Swaps and TUV Digital Currency Swaps provide fully-operational and instantly-accessible Zero-Cost Alternatives to the Global FX Market

Global FX Market USD to EUR Conversion and Immediate Reconversion

Global FX Market USD to EUR Conversion and Global FX Market EUR to USD Immediate Reconversion
Global FX Market USD to EUR Conversion and Global FX Market EUR to USD Immediate Reconversion
Global FX Market USD to EUR Conversion and Global FX Market EUR to USD Immediate Reconversion

ST PETER PORT, Guernsey and NEW YORK, Sept. 27, 2021 (GLOBE NEWSWIRE) -- Global Telephony Provider Webtel.mobi (“WM”) – whose System and TUV Digital Currency render current Cryptocurrencies redundant, supersede CBDCs and provide two fully-operational alternatives to the SWIFT System – has announced two additional facilities in its System, which provide an instantly-accessible and zero-cost alternative to the Global FX Market.

These two WM Facilities – its Currency Swap and TUV Digital Currency Swap Facilities – provide WM Members with the ability to set their own currency exchange rates PP2P directly between each other, and carry out instant Currency Swaps between each other directly on the WM System’s Platform. The savings in these transactions render the rates available in the current Global FX Market so unattractive as to potentially become redundant.

As an example, in a standard Global FX Market conversion, if one converted USD 10 000 000.00 to Euro, one would receive +/- Euro 8 104 700.00 (Note: An indicative rate. The Euros received will alter slightly depending on who the exchange is done through, but it will be a similar result, within a few thousand Euros).

If one were then to do an immediate reconversion of the Euro 8 104 700.00 back to USD, one would expect to get more or less USD 10 000 000.00 back – less some conversion costs. However, what one will in reality get back with an immediate reconversion is only +/- USD 9 023 540.00. Nearly a million dollars would have simply disappeared. This exercise reveals the true costs of FX Conversions via the Global FX Market.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/106d959b-c1e6-408d-99f9-50fd4366c8c5

The photo is also available at Newscom, www.newscom.com, and via AP PhotoExpress.

These costs are due to three primary factors. Firstly, the legacy systems used in the Global FX Market are outdated, and not able to function according to 21st Century standards. Secondly, the Global FX Market is highly fragmented, with thousands of entities of varying standards levying multiple charges. Thirdly, the Global FX Market requires an extremely high number of intermediaries to function – all of which load their additional fees and commission on to every transaction. Additional cost-raising factors can be found by Googling “Forex Scandal”.

In contrast, WM’s Currency Swap and TUV Currency Swap Facilities enable WM Members to see what the Global FX Market’s Currency Exchange Rates are, and then set their own PP2P rates accordingly. For example:

  • Member A wants to exchange USD to get Euro 8.1 Million. He does a query with a Global FX Market Provider and sees that it will cost him USD 10 Million to get Euro 8.1 Million.

  • Member A then does a query with a Global FX Provider to see how much in USD the amount of Euro 8.1 Million will buy, and sees that it will only buy +/- USD 9 Million.

  • Member A then sets his WM Currency Swap Offer Swap to be just over USD 9 Million for Euro 8.1 Million; and therefore gets the same amount of Euros for almost USD 1 Million less than in the Global FX Market.

  • If Member A sets his WM Currency Swap at, for example, USD 9.5 Million to make it attractive, it will still cost him/her almost USD 500 000.00 less compared to Global FX Market Rates. Moreover, Member B who is Swapping the Euro for USD will similarly get almost USD 500 000.00 more than in the Global FX Market.

  • The same potential for savings to the same scale apply for any Swap amount in any WM Platform Currency.

REQUIRED CHARACTERISTIC

GLOBAL
FX MARKET

WM’s
CURRENCY SWAPS

WM’s TUV
CURRENCY SWAPS

Daily Value Volume

USD 6.6 Trillion Per Day (Net) / USD 8+Trillion Per Day (Gross)

Carry Out Conversions Worldwide

Yes

Yes

Yes

Compliant with Applicable Regulation

Yes

Yes

Yes

Account Holders Control the Conversions

No

Yes

Yes

Account Holders set own Exchange Rates

No

Yes

Yes

Settlements (RTGS) in 1/100th of a Second

No

Yes

Yes

Conversions done from any Mobile Phone

No

Yes

Yes

Conversions done from any Location

No

Yes

Yes

Conversions done at any time of any day

No

Yes

Yes

Conversions function 24/7/365

No

Yes

Yes

Live Conversion Weekends & After Hours

No

Yes

Yes

Instant Confirmation to All Parties

No

Yes

Yes

Real-Time Records and History

No

Yes

Yes

Centrally-Controlled Worldwide

No

Yes

Yes

Worldwide Uniform Standards & Security

No

Yes

Yes

Functions PP2P with No Intermediaries

No

Yes

Yes

Can be used Online by Unbanked

No

Yes

Yes

Free to have an Account

No

Yes

Yes

Free of Service Fees

No

Yes

Yes

Free of Intermediary Fees

No

Yes

Yes

Free of FX Spread Rate Fees

No

Yes

Yes

Totally Free Conversions

No

Yes

Yes

WM’s fully-operational Currency Swap and TUV Digital Currency Swap Facilities are available to all WM Members.
Resources:

Media Contact:
Nick Lambert: wm@thoburns.com

Video on the WM System and TUV Digital Currency:
https://youtu.be/XYBrCikUhn8

Research Reports on the WM System and TUV Digital Currency:
https://tinyurl.com/TUVresearch

Characteristics of WM’s TUV Digital Currency:
https://tinyurl.com/TUVdata

WM’s urls:
https://webtel.mobi/pc (Tablets / Laptops / Desktops)
https://webtel.mobi (Smart Phones)
https://webtel.mobi/wap (Pre-Smart Mobile Phones)


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