Report Finds Stablecoin Remittances Cost 84% Less Than Traditional Transfers
(2 hours ago) · 1 source · Summarized by CryptoBipto
A report has found that sending money across borders using stablecoins costs approximately 84% less than using traditional remittance services. The findings highlight the growing role of stablecoins as a lower-cost alternative for international money transfers.
WHY IT MATTERS
When people working abroad send money home to their families, they often pay significant fees to companies that handle the transfer. Think of it like paying a toll every time you cross a bridge — except the toll can be quite expensive. Stablecoins are a type of cryptocurrency that stays at a steady value (usually pegged to the US dollar), unlike Bitcoin or Ethereum, which can swing in price. This report suggests that using stablecoins to send money internationally could be much cheaper than traditional methods. For people in developing countries who depend on money sent from relatives abroad, even small reductions in fees can make a meaningful difference in how much actually reaches their families.
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- cointelegraph.com
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