BIS research shows that low-cost bitcoin transfers are changing remittances against a backdrop of high traditional costs.
A new study by the Bank for International Settlements shows that cross-border flows of crypto assets reached $2.6 trillion in 2021, with stablecoins and emerging markets transforming global financial networks.
High inflation is driving the adoption of bitcoin and stablecoins in emerging markets, BIS research shows.
In the latest working paper of the Bank for International Settlements (BIS) No.1265, it is noted that cross-border flows of crypto assets reached $2.6 trillion in 2021, accounting for 12% of global goods trade, with stablecoins making up nearly half. The study, authored by Raphael Auer, Ulf Levrik, and Jan Paulik, analyzes transactions with bitcoin, ethereum, and stablecoins in 184 countries from 2017 to mid-2024.
