Stablecoin Payments Face High Cash‑Out Costs in Cross‑Border Transfers
Current overview (not historical)
Stablecoin payments are fast, but the Bank of Italy’s experiment shows that nearly 60 % of the total cost of cross‑border transfers comes from buying and cashing out stablecoins, while on‑chain transfers account for only a small share. BVNK research adds that about 35 % of freelancer and gig‑worker income is held in stablecoins, meaning that a payment can arrive in a crypto wallet while the recipient still has to move the money out of a bank account to cover rent or other expenses. These findings highlight a significant friction point for users who rely on stablecoins for everyday transactions, despite the speed advantages they offer.
Written with AI from the reporting · updated 10/28/2026
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- 1Unclassified fact stationOct 29, 06:03single sourcereport-time only
Stablecoin payments have significant cash-out costs
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- Subject：
- Bank of Italy
- Action：
- conducted experiment
- Object：
- international payment routes
- Occurred (fact side)：
- not recorded
- Published (valid side)：
- Oct 29, 05:47
- First seen (known side)：
- Oct 29, 06:03
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- BeInCryptoRelated fact: single sourceFact occurrence time unverifiedStablecoin Transfers Cost Up to 60% of Value, Highlighting Cash‑Out Fees
Report first recorded Oct 29, 06:03
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.
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