Settlement time comparison
Please see the comparison to traditional payment rails and stablecoin payment below.
| |
SWIFT |
Stablecoin |
| Avg. Settlement time comparison |
| Europe/ North America to Asia |
3-4 days |
<10 min |
| Europe/ Africa |
2-5 days |
<10 min |
| Europe/ North America to Latin America |
2-5 days |
<10 min |
| Avg. Cost comparison |
| South East Asia > Europe |
3-4% FX fee, + 30$ SWIFT fee |
4x cheaper |
| Africa > Europe |
2-5% FX fee, + 30$ SWIFT fee |
8x cheaper |
| UK > Europe |
0.2-0.5% FX fee, + 30$ SWIFT fee |
Equivalent |
| Payments capabilities comparison |
| API-first |
No |
Yes |
| Availability |
Banking hours |
24/7/365 |
| Accessibility |
FIs control access |
Permissible by default |
| Transparency |
Payment information for last leg only |
Every transaction recorded on the blockchain. Payment information for entire history of funds |
| Safety |
Financial info shared between intermediaries |
Encrypted transactions, anonymous and secure |
| Resiliance |
Reliance on central entities/system |
Built-in redundancy with decentralisation |
| Regulation |
Tried and tested regulatory frameworks |
Regulator frameworks developing arount the globe (EU, USA, and UK leading the way) |