Stablecoin payments offered better rates than banks in Q2

Stablecoin payments were processed at more favorable rates than interbank foreign exchange rates every month during the second quarter of this year, The Block reported, citing data from U.S. venture capital firm Borderless. This indicates that stablecoins held a cost advantage over traditional financial systems for cross-border payments. The outlet noted, however, that users who consistently use a single platform for stablecoin payments might incur extra fees by missing out on more favorable rates elsewhere. A transfer of $1 million, for instance, could lead to an additional cost of $2,330.