A Bank of Italy experiment across ten international payment routes revealed that moving $200 in stablecoins can cost between 60 cents and nearly $18. Expenses are primarily driven by buying and cashing out tokens, while blockchain transfer fees represent only a small portion of the total cost.
Data from BVNK indicates that approximately 35% of income for freelancers, gig workers, and marketplace sellers is received via stablecoins. The Italian study noted that total costs, including exchange-rate spreads and withdrawal fees, range from 0.30% to nearly 9% depending on the route.
Industry representatives, including RedotPay and KAST, emphasize that high costs during on-ramping and off-ramping remain a significant barrier. RedotPay provides cards for spending stablecoins at over 130 million merchants, while KAST focuses on simplifying the user experience to resemble traditional Web2 applications.
Comparing stablecoin costs requires context from existing financial benchmarks. The World Bank reported that the global average remittance cost in Q3 2025 was 6.36%, while the digital-only money-transfer-operator index stood at 3.54%.
Market participants suggest that regulatory developments could help lower costs by enabling providers to negotiate better commercial terms. Increased competition in the market is expected to drive down prices for core functions like conversion and withdrawal.
