IMF Says Stablecoins May Cut Cross-Border Payment Costs

The International Monetary Fund (IMF) has found that stablecoins such as USDT and USDC could make cross-border payments faster and cheaper by reducing friction in traditional international transfers.

However, the IMF notes that this assessment implies possible efficiency gains rather than a universal cost advantage. In fact, the final cost of sending USDT or USDC extends beyond the blockchain transaction itself, with users still paying exchange fees, network charges, conversion spreads, and on- or off-ramp costs before the recipient receives spendable local currency.

The IMF highlights that stablecoins have the potential to lower costs while creating additional financial and policy risks. This is particularly relevant for large-value cross-border payments, where stablecoins could make transactions cheaper and faster.