Cross-Border Transfers: Stablecoins Offer Cost-Effective Solutions

A recent report from Keyrock has shed light on the cost disparities in cross-border remittances across different platforms. Traditional banks are charging a hefty 12.66% for a $200 transfer, while money transfer operators (MTOs) typically charge around 5.35%. Mobile operators offer a more competitive rate of about 3.87%. However, stablecoin platforms are making significant strides in efficiency, reducing the cost of similar transactions to under 1% – significantly impacting how efficiently funds move across borders.