Stablecoin Transfers Cost Up to 60% of Value, Highlighting Cash‑Out Fees

A Bank of Italy experiment across ten international payment routes found that moving $200 in stablecoins incurred a total cost of about 60 cents—nearly 18% of the transferred amount. The bulk of the expense came from buying and selling the tokens, while the actual blockchain transfer accounted for only a small fraction. A BVNK survey, acquired by Mastercard, showed that roughly 35% of freelancers, gig workers and marketplace sellers receive their income in stablecoins, making the high cash‑out fees a significant concern for those who need to convert earnings into local currency for everyday expenses. The study underscores that while stablecoins offer fast, cross‑border payments, the end‑to‑end fees—especially on‑ramping and off‑ramping—can erode the value received by users. Reason: The findings reveal a hidden cost that can erode the benefits of stablecoins for workers and businesses, making it crucial for stakeholders in crypto payments and fintech to address cash‑out friction and improve fee transparency.