BIS paper: stablecoins cut cross-border costs but do not remove intermediaries
- —Stablecoins on Ethereum, Solana and Tron bypass correspondent banks and SWIFT
- —Exchange rates for major-currency stablecoins approach wholesale FX rates, with low on-chain fees
- —The full fiat-stablecoin-fiat cycle still incurs trading, withdrawal and ramp costs
- —Insufficient market depth limits cost savings on large payments
Why it matters: The BIS acknowledges savings on intermediaries but flags limits to stablecoin scaling in payments, feeding into regulatory debate.
Source: PANews