Turns Out Stablecoins Aren't Actually Cheaper for Sending Money Home
Aug 19, 2026
A new Bank of Italy study tested USDC across ten money corridors and found stablecoins don't really save you money on remittances.
The Study
One of the biggest selling points for stablecoins has always been cheap, fast payments across borders. So the Bank of Italy decided to actually test that claim. They ran a mystery shopping study, sending 200 USD Coin across ten real world corridors, linking Italy with places like Argentina, Brazil, South Africa, the UAE, and Japan.
The Surprising Result
The findings weren't what stablecoin fans were hoping for. Total costs varied a lot depending on the route, but overall, USDC didn't show any systematic advantage over traditional remittance services.
Turns out the real cost driver isn't the blockchain part at all. It's converting in and out of local fiat currency on each end that eats up most of the fees. The blockchain transfer itself is basically free and instant, but once you add cashing in and out, the savings mostly disappear.
Good reminder that crypto payments still have to deal with the same old fiat plumbing at the edges.