A study by the Bank for International Settlements found that cross-border payments remain slow and expensive, while fintech firms such as Wise and Remitly have cut costs sharply compared with traditional retail bank wire transfers. The study also said stablecoins still face frictions in cross-border payment use cases. The item was cited by Finextra and summarized by Techub. The findings draw a clear contrast between newer payment providers and both legacy banking rails and stablecoin-based transfers, with the BIS pointing to persistent inefficiencies in the broader cross-border payments market.
Cross-border payments remain slow and expensive, according to research from the Bank for International Settlements, or BIS.
The study found that fintech companies such as Wise and Remitly have significantly reduced costs compared with traditional retail bank wire transfers. Stablecoins, by contrast, still face frictions in cross-border payment scenarios.
The item was cited by Finextra and summarized by Techub.
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