Stablecoin Remittance Costs Trail Wise in Four of Seven Corridors

Using the World Bank's reported global average remittance cost of 6.65% as a benchmark, stablecoin transfers were cheaper in most of the corridors examined. They were less expensive than Wise in only three of seven comparable corridors, the study said.

The authors argued that the biggest gains may come when stablecoins no longer require conversion back into fiat currency. Investment in domestic instant payment infrastructure could improve the competitiveness of stablecoin-based cross-border payments, they found, since settlement times depended heavily on the quality of local payment rails.

Regulatory design also played a major role. Prohibitionist regimes failed to fully suppress stablecoin demand and instead pushed users toward offshore platforms and unregulated channels, the authors said. Overly restrictive frameworks increased operational complexity for retail users.

The findings come as the European Union has implemented its Markets in Crypto-Assets framework and the United States has enacted the GENIUS Act. The stablecoin market has grown to about $307 billion, up roughly 16% over the past year, according to DefiLlama data.