Blockchain-based fiat currency conversions and transfers

A method, comprising:

• providing cooperating instances of an inter-country remittance service with a first instance processing in a source country and a second instance processing in a target country;
• receiving, by the first instance, a remittance of value funds from a sender directed to a recipient in the target country;
• crediting, by the first instance, a custodial wallet for the sender with the value funds while a transfer of the value funds from a personal wallet of the sender to the custodial wallet is pending transfer on a blockchain;
• and
• transferring, by the second instance, the value funds in a fiat currency associated with the target country to a financial account of the recipient within the target country based on the crediting.

A system comprising:

• a cloud comprising a plurality of servers;
• each server comprising at least one processor and a non-transitory computer-readable storage medium;
• each non-transitory computer-readable storage medium comprising executable instructions;
• the executable instructions when provided to or obtained by the corresponding processor from the corresponding non-transitory computer-readable storage medium cause the corresponding processor to perform operations, comprising:
• processing a first instance of the executable instructions on a first server within a source country;
• processing a second instance of the executable instructions on a second server within a target country;
• receiving, by the first instance, a remittance request with value funds from a sender, the value funds being directed from the sender to a financial account of a recipient within the target country;
• crediting, by the first instance, an amount of cryptocurrency in a first cryptocurrency type to a custodial wallet of the sender while the value funds are pending transfer on a blockchain from a personal wallet of the sender to a wallet maintained by the first instance and the second instance;
• providing, by the first instance, identifiers for the custodial wallet and the financial account of the recipient to the second instance;
• locating, by the second instance, a cryptocurrency exchange locally associated with the target country that has a lowest conversion rate for converting the first cryptocurrency type to a fiat currency of the target country;
• initiating, by the second instance, a sale of the amount of the first cryptocurrency type into an equivalent amount of the fiat currency with the cryptocurrency exchange over the blockchain;
• and
• transferring, by the second instance, the equivalent amount of fiat currency from a second financial account associated with the second instance to the financial account of the recipient while the sale is pending on the blockchain.