Stablecoins Challenge Legacy FX Rails in Emerging Markets as Off-Ramps Remain a Key Bottleneck

Research firm Delphi Digital said on a Monday post that stablecoins are becoming a cheaper way to move U.S. dollars across emerging market FX corridors, where legacy systems can charge up to 8% in combined fees. While onchain transfers settle in seconds, off-ramps like bank account and interbank access still create major friction between blockchain networks and traditional finance.