Stablecoin Remittances Fail to Beat Traditional Transfer Services

A recent study by Banca d'Italia found that stablecoin remittances do not consistently beat traditional transfer services on cost or speed. The test, which was conducted in July 2026, involved transferring USDC across ten corridors linking Italy with various countries.

The researchers executed real transfers of $200 across these corridors and recorded total costs ranging from 0.30% to almost 9%. The blockchain leg averaged only 0.4%, while exchange purchases, funding methods, withdrawals, and foreign-exchange conversion produced most of the expense.

The study warned that stablecoins showed 'no systematic cost advantage' over traditional channels. In fact, USDC was cheaper in three routes: Italy to Argentina, Italy to South Africa, and Brazil to Italy. However, it was more expensive in four routes, including both UAE routes and Italy to Brazil.