Stablecoin FX priced below interbank rates in Q2, with routing now the biggest cost lever: Borderless
The Block·
60-second summary
Stablecoin FX payments are priced 3.2 basis points below interbank FX rates across 260 corridors in Q2, according to Borderless.xyz's benchmark. This margin is a significant reduction from previous years, making routing the biggest cost lever for stablecoin transactions. The narrowing gap between stablecoin and interbank rates is a key market trend.
Stablecoin payments were priced 3.2 bps below interbank FX rates across 260 corridors in Q2, per Borderless.xyz's benchmark.