On October 19, the Bank for International Settlements (BIS) released Working Paper No. 1385, comparing cross-border payment costs among traditional banks, fintech platforms like Wise and Remitly, and stablecoins. The paper points out that stablecoins are not a 'magic solution' to the issue of cross-border payment costs. The study found that for small-scale samples of traditional bank wire transfers, foreign exchange markups range from about 2% to 4.7%. In comparison, sending $10,000 from the U.S. to certain developed markets via fintech platforms has a median fee of around $40 to $60. The report suggests that stablecoins may have an exchange rate advantage in some emerging markets with capital controls, but this is largely due to market price differences caused by capital controls and demand for the U.S. dollar, rather than efficiency improvements from blockchain technology itself. https://www.(wublock123.com)/news/bis-working-paper-stablecoins-not-cure-for-cross-border-payment-costs-70345