According to CoinMeta, the Italian Central Bank released a study that tested 10 remittance routes between Italy and Argentina, Brazil, South Africa, the United Arab Emirates, and Japan, with each transfer amounting to 200 USDC. The results showed that stablecoins do not have a systematic cost advantage over traditional channels for cross-border remittances; the total cost accounted for approximately 0.3% to nearly 9% of the remittance amount, with on-chain transfer fees comprising only a small portion of this total. The study pointed out that costs and the speed of fund arrival are mainly influenced by the process of converting fiat currency and the local payment infrastructure: when instant payments are supported, the entire process can be completed within 20 minutes, whereas with regular bank transfers, it may take 1 to 2 working days.