A $200 remittance over stablecoin rails costs about $2 at the median. Sending the same $200 through correspondent banks takes $12.72. Borderless.xyz published both figures this week, the second one sourced to World Bank data, and the gap comes out around 84% cheaper.
That saving is real. It comes from deleting intermediaries, not from the token being sound money. A stablecoin lands in minutes because nobody in the middle holds the payment overnight. The unit itself remains a claim on an issuer's balance sheet, freeze list included.
Cheapness belongs to the rail. Soundness belongs to the asset. Most stablecoin arguments mix the two and then talk past each other.
Completion rates show the uneven part. Mexico's SPEI paid out 98.6% of the time last quarter, Costa Rica's SINPE only 73%. Cost is settled. Reliability is not.
That saving is real. It comes from deleting intermediaries, not from the token being sound money. A stablecoin lands in minutes because nobody in the middle holds the payment overnight. The unit itself remains a claim on an issuer's balance sheet, freeze list included.
Cheapness belongs to the rail. Soundness belongs to the asset. Most stablecoin arguments mix the two and then talk past each other.
Completion rates show the uneven part. Mexico's SPEI paid out 98.6% of the time last quarter, Costa Rica's SINPE only 73%. Cost is settled. Reliability is not.
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