Borderless.xyz says stablecoin remittances cost 84% less than bank transfers
A Borderless.xyz report says sending a $200 remittance through stablecoin rails costs a median 1%, against 6.36% for traditional transfers, with payouts settling in minutes in Brazil and Mexico.
Why it matters: The report reinforces stablecoin payments as a cheaper, faster alternative to bank wires, a core use case as transaction volumes grow even while the market's capitalisation stays flat.
Our own reporting on this: Borderless.xyz report says stablecoin remittances cost 84% less
Key points
- A $200 stablecoin-funded remittance costs a median 1%, or $2, versus 6.36%, or $12.72, for traditional transfers, Borderless.xyz says.
- Sub-Saharan Africa costs are 2.9% against 8.46%, and Latin America 1.25% against 5.64%.
- PIX payouts in Brazil settled in a median two minutes and Mexico's SPEI in three, while SWIFT transfers typically settled the next business day.
Stablecoin remittances cost about 84% less than traditional transfers, according to a third-quarter report from the stablecoin payments network Borderless.xyz.
The savings are also large in emerging markets.
Borderless also reports faster settlement. Completion rates varied: SPEI completed 98.6% of payouts, PIX 97.8%, PSE 79% and Costa Rica's SINPE 73%.
The findings arrive as stablecoin transaction activity grows. Standard Chartered recently highlighted rising volumes despite relatively flat growth in overall stablecoin market capitalisation this year, and expects the market to reach $2tn by 2030, two years later than previously forecast.
Live updates on NewsFeeds:StablecoinsDesk editor: Keshav Aggarwal (accountable for this page; this summary was not edited by hand)
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