According to CoinMeta, and as reported by Beincrypto, a survey by Italian banks has shown that stablecoins do not possess a systemic cost advantage in cross-border remittances. Researchers tested the transfer of $200 between Italy and countries such as Argentina, Brazil, South Africa, the United Arab Emirates, and Japan, and found that the total fees ranged from 0.3% to 9%. On-chain transfers accounted for an average of 0.4% of the total costs, while processes such as fund top-ups, currency exchange, and withdrawals rely on banks and exchanges, which drives up the fees. The speed of transfers varies significantly depending on the infrastructure at the destination; for example, the PIX system in Brazil can complete a transfer within 20 minutes, whereas in South Africa it takes 1 to 2 working days. Stablecoins are highly dependent on the traditional banking system.