# Professor Richard Sylla discusses the ability of cryptocurrencies to make overseas payments less expensive and more secure

1 Faculty News November 17, 2019 ![Cointelegraph logo](/sites/default/files/styles/246w/public/assets/images/Cointelegraph-logo-feature.jpg?itok=bm8n831X)>

Excerpt from [Cointelegraph](https://cointelegraph.com/news/bitcoin-revolution-meets-protestant-reformation-crypto-drives-change) -- "'We all know that banks charge you a lot for transferring money,' told [Sylla](https://www.stern.nyu.edu/faculty/bio/richard-sylla) to Cointelegraph. Bitcoin and other cryptos hold the promise of making overseas payments less expensive and more secure. Breaking the banks’ so-called monopoly here would have benefits."

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