Bank of Italy Says Stablecoins Don't Actually Save Money on Remittances — Here's What That Means for Crypto's Biggest Promise

WHY IT MATTERS

Imagine you work in another country and want to send money home to your family. Traditional services like Western Union charge fees for this. Stablecoins — digital currencies pegged to the dollar or euro — have been promoted as a cheaper alternative, like sending an email instead of mailing a letter. But Italy's central bank studied this and found that when you add up all the costs of converting your regular money into stablecoins, sending them, and converting them back, you don't consistently save money. Think of it like a toll road that advertises no tolls but charges you at the entrance and exit — the total cost can end up being similar. This matters because 'cheaper remittances' has been one of crypto's biggest selling points, and this study questions whether that promise holds up in practice.