The Bank for International Settlements published a paper stating that stablecoin cross-border payments are restricted by entry and exit costs and liquidity limitations.

The Bank for International Settlements has released Working Paper No. 1385, analyzing the application of stablecoins in cross-border payments. The paper points out that stablecoins can reduce reliance on correspondent banks and SWIFT through networks like Ethereum, Solana, and Tron, thereby lowering transfer fees. However, the process of exchanging fiat currency for stablecoins still involves trading, withdrawal, and deposit fees, and insufficient market depth limits the cost advantage for large payments.