Data observed across 66 corridors in Africa shows conversion costs from 1.5% to 19% in January, with competition driving pricing gaps.
Update Feb. 12, 6:50 am UTC: This article has been updated to add comments from Borderless.xyz CEO Kevin Lehtiniitty.
Africa recorded the highest median stablecoin-to-fiat conversion spreads among tracked regions in January, according to data observed by payments infrastructure company Borderless.xyz, covering 66 currency corridors and nearly 94,000 rate observations.
The regional median spread was 299 basis points, or about 3%, compared with about 1.3% in Latin America and 0.07% in Asia. In Africa, conversion costs ranged from about 1.5% in South Africa to nearly 19.5% in Botswana.
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