Stablecoin Payments Are Fast. But They Have a Cost Problem

Moving $200 through stablecoins can cost around 60 cents, or nearly $18. That was the spread in a Bank of Italy experiment across ten international payment routes. Buying and cashing out the tokens drove much of the expense; moving them on the blockchain accounted for only a small share. This is no small amount. The cost can be significant for someone who receives their wages in stablecoins. The payment can arrive in a crypto wallet while rent still needs to leave a bank account. Another survey by BVNK, the stablecoin infrastructure provider acquired by Mastercard, found that freelancers, gig workers and marketplace sellers received roughly 35% of their income via stablecoins. The utility of stablecoins is well-proven across industries today.

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