Stablecoin remittances cost 84% less than traditional transfers, report finds
Borderless.xyz data shows major savings on cross-border business payments, with stablecoin transfers also settling faster than traditional international bank wires.
A new report from Borderless.xyz reveals that using stablecoin remittances can be up to 84% cheaper than traditional international bank transfers, particularly benefiting businesses and individuals in emerging markets. The cost comparison indicates stablecoin transfers cost $2 to send a $200 remittance, while traditional transfers cost $12.72, with savings becoming more pronounced in regions like Sub-Saharan Africa and Latin America.
Business payments made through stablecoins are also notably cheaper, with a $10,000 transfer to the eurozone costing as little as $26 via the lowest-cost provider compared to $52 for traditional bank wires. Additionally, stablecoin-funded payments can reach recipients' local bank accounts in minutes, often faster than traditional SWIFT transfers that can take up to three business days.
However, completion rates vary, with Mexico’s PIX network having a 98.6% success rate compared to Colombia’s PSE network at 79%. The report underscores the growing adoption of stablecoins, with Standard Chartered predicting the market could reach $2 trillion by 2030.
Written by urgent.news from Cointelegraph's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
