BIS compares cross-border payment costs
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AI-assisted source synthesis · not an independent investigation.
On October 23, 2026, a BIS working paper compared the costs of correspondent-bank remittances, fintech remittance services, and stablecoin transfers. The study found that foreign-exchange markups on bank transfers in the sample were about 2.3% to 4.7%; for remittances from the United States to advanced economies above $10,000, the median cost of fintech services was typically about 0.4% to 0.6%. In addition to transaction fees, stablecoin transfers involve fiat-to-stablecoin conversion and on- and off-ramp costs, and are constrained by market liquidity; the relevant market is much smaller than the traditional foreign-exchange market. The study also noted that costs for different payment methods depend on the remittance corridor and transaction amount, and that the data are not always directly comparable.
AI-written from reports · updated 15 hours ago
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- Payments Cards & MobileBIS study compares cross-border payment costs: fintech transfers are cheaper than banks, while stablecoins remain constrained by conversion costs
A BIS working paper compares correspondent banking remittances, fintech remittance services and stablecoin transfers. It finds that foreign exchange markups on bank remittances in the sample were about 2.3% to 4.7%, while the median cost of fintech services was typically about 0.4% to 0.6% for remittances from the United States to developed markets in amounts exceeding $10,000. Stablecoin transfers also involve conversion between fiat currencies and stablecoins, transaction fees, and on- and off-ramp costs, while liquidity in related markets is far smaller than in traditional foreign exchange markets. The study notes that the costs, corridors and transaction amounts of different payment methods are not always directly comparable.
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