BIS releases research paper comparing costs across cross-border payment channels.
Get up to speed
The Bank for International Settlements (BIS) released working paper 1385, comparing the full costs of three types of cross-border payment channels: traditional correspondent banking and SWIFT-based bank wire transfers, fintech remittance operators such as Wise and Remitly, and stablecoin transfers. The study combines intraday fintech pricing, World Bank remittance data, bank wire transfer transactions, and crypto market data to construct comparable cost indicators across currencies and remittance sizes, distinguishing between foreign exchange markups and explicit fees.
AI-generated from reports · 3 hr agoUpdated
Coverage timeline
Follow the coverage to understand different sides of the event.
- Bank for International Settlements BIS: Research papersBIS Working Paper: Competition Channels for Cross-Border Payments — Banks, Fintechs, and Stablecoins
The Bank for International Settlements released Working Paper No. 1385, which compares the total costs of three cross-border payment channels: traditional correspondent banking and SWIFT-based bank transfers, fintech remittance operators such as Wise and Remitly, and stablecoin transfers. The study combines intraday fintech pricing, World Bank remittance data, bank transfer transactions, and crypto market data to construct comparable cost indicators across currencies and remittance sizes, distinguishing between foreign exchange markups and explicit fees.
Trend of this event
Not enough consecutive observations yet; trend is not drawn.