A new KPMG report reveals how stablecoins are set to transform the world of international money transfers. By significantly reducing settlement times and transaction costs, these digital currencies have the potential to revolutionize cross-border payments. Currently, banks utilize slow and costly correspondent banking networks that tie up funds in nostro and vostro accounts. This process adds complexity and expenses for both individuals and businesses seeking fast and cost-effective cross-border transactions. The report highlights pioneers like JPMorgan and PayPal who are increasingly demanding blockchain-based payment solutions, signaling a shift towards faster and more efficient solutions.