Stablecoins Challenge $900 Billion Remittance Market as World Bank Fees Remain Above 6%

Stablecoins are gaining ground in cross-border payments, targeting the roughly $900 billion global remittance market, BlockBeats reports. World Bank data show average remittance fees remain above 6%, and industry participants say blockchain-based stablecoins can cut costs and time versus providers such as Western Union. In July, U.S. President Trump signed the GENIUS Act to establish a federal framework for stablecoins, prompting firms including Western Union and PayPal to explore related products. Analysts noted incumbents have compliance scale while crypto-native firms like Coinbase and Kraken are more agile; if regulatory details progress, penetration in remittances could increase this year, market participants said.