Castler closes Pre-Series A funding of $6 Million led by Flipkart, Capital 2B, IIFL Fintech Fund, Venture Catalysts & Zerodha

How can a cross-border escrow service protect both the buyer and seller in a transaction?

A cross-border escrow service, such as Castler’s Digital Identifier system, can protect both the buyer and seller in a transaction by acting as a neutral third party that holds the funds until the transaction is completed. This means that the buyer can be assured that their payment is secure and will only be released to the seller once they have received the goods or services they paid for. Similarly, the seller can be confident that they will receive payment once they have fulfilled their end of the transaction.

The use of an escrow service can also help to mitigate the risks associated with cross-border transactions, such as currency fluctuations, language barriers, and differing legal systems. By providing a secure and transparent platform for transactions, both parties can have greater peace of mind and confidence in the transaction. Additionally, the use of a Digital Identifier system can streamline the transaction process, reducing the time and costs associated with traditional escrow services.