Original sourceLawrence Mondal
Summary
Wirex CEO Pavel Matveev argues that the main draw of stablecoin cards is foreign exchange savings, not cashback. By settling in six fiat currencies plus stablecoins, cross-border spending can save one currency conversion, cutting costs by up to about 2% compared with settling in US dollars only. He…
Key points
- For those assessing the value of stablecoin card products, this observation points out that the real draw is FX cost rather than marketing rewards.
- Clarifying that stablecoin cards' core value comes from FX savings helps issuers design products and assess long-term retention.
- Frequent cross-border spenders can save on FX costs through multi-currency settlement; firms wanting to launch cards must first clear issuing license and compliance thresholds.
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