Fintechs top banks and stablecoins for cheap cross-border payment - BIS research
What's happening
BIS research finds fintechs like Wise and Remitly have substantially cut cross-border costs compared with traditional retail bank wires, while stablecoins still face friction and other issues. Neo's survey shows 88% of senior finance professionals at internationally operating SMEs believe stablecoins could improve B2B collections, but only 27% currently accept them. Industry coverage highlights stablecoins as a way to reduce prefunding and working capital needs, with firms such as Airwallex shipping USDC payments and companies like Payoneer and Wells Fargo exploring stablecoin strategies. At industry events (Luno's LIDAC) participants from Tether, Xweave and Standard Chartered debated whether tokenized money and stablecoins will reshape cross-border flows, and commentators argue stablecoins should integrate with existing rails like cards rather than try to replace them.
Why it's trending
Rising costs and slow bank wires plus clear SME interest (88% see benefits) are pushing fintechs, banks and payment firms to test stablecoins and tokenized money now.
SignalHolding at its usual pace, confirmed across 2 independent source types.
Story volume
Stories per dayAngles you could write
Banks are not obsolete: fintechs cut fees, but BIS says stablecoins still struggle, so incumbent banks and card rails get the last mile advantage today.
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Original sources8
- Fintechs top banks and stablecoins for cheap cross-border payment - BIS research
Cross-border payments remain slow and expensive but fintech outfits such as Wise and Remitly have substantially cut costs relative to traditional retail bank wires while stabelcoins still suffer from issues with friction, according to BIS research.
FinextraOct 22 - Stablecoins Need to Get Behind Cards, Not Replace Them
Watch more: Paymentology Says AI Agents Must Earn the Right to Move Money The stablecoin industry has spent possibly too much time trying to reinvent checkout. Consumers already have a nearly universal interface for turning balances into purchases. Their cards. Merchants already accept them, networks already route them, all while banks and processors already know […] The post Stablecoins Nee
PYMNTSOct 21 - Aussie startup gauging demand for gold, bitcoin and stablecoins as cross-border payment instruments
Hello all, We’re an Australian startup that believes Wise and Airwallex’s fiat-to-fiat transfer model is antiquated by modern standards, (although Airwallex is now shipping USDC payments). Global debt is eroding fiat’s purchasing power, and while fintech models can be efficient, they don’t make money productive in the way stablecoins can, and they don't protect long-term purchasing power in the wa
r/paymentsOct 19
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