Compare

Stablecoin settlement vs correspondent banking

How the two ways to send money abroad compare on speed, cost and capital, and when to use each.

At a glance

Side by side

Stablecoin settlement compared with correspondent banking
Correspondent bankingStablecoin settlement with Elytra
Settlement time2–5 business days; cut-offs, weekends and holidays add moreMinutes from deposit to payout, 24/7/365
All-in costTypically 3–6%: fees at each hop plus an FX markupOne price, a fraction of bank FX, shown before you send
How it movesHops through three or four banks, each holding and pricing itLocal rails in, one onchain crossing, local rails out
Capital at destinationA pre-funded nostro account in each payout marketNone: each transfer funds its own payout
Price certaintyThe spread is found at reconciliationQuoted and held before you commit
TrackingEach bank sees only the next party in the chainEvery state pushed to you as it happens
Who holds fundsEach bank in the chain, in turnLicensed partners at every leg; Elytra never takes custody
ReachAlmost every currency pair in the worldUSD, EUR, GBP, CAD, AED, NPR, USDC and USDT, plus 14 payout markets through partner banks
Mechanics

How each one works

Correspondent banking

A chain of accounts

Your bank passes the payment to a bank it has an account with, which passes it on until one can pay out locally. Each hop has its own hours and its own fee.

Stablecoin settlement

One crossing

Money is paid in locally, turned into stablecoin by a licensed partner, moved onchain, converted at the destination and paid out locally.

What changes

Days, deductions and float

With no banks in the middle there is nothing to wait for and nothing deducted on the way. The money arrives in minutes, so nothing is pre-funded.

Choosing

Which should you use?

Banks still reach more currency pairs than any one network. Where your corridors are covered, stablecoin settlement is faster, cheaper and needs no cash parked abroad. Many teams use both.

Is stablecoin settlement faster than correspondent banking?

Yes, on the corridors it covers. A correspondent payment takes two to five business days. With Elytra it takes minutes from deposit to payout, every day of the year.

Is it cheaper?

Yes. Correspondent payments typically cost 3 to 6% all-in once every bank’s fee and FX markup is counted. Elytra costs a fraction of that, with one price shown before you send.

Do recipients need a crypto wallet?

No. The stablecoin only carries the money across. The recipient is paid in local currency, into the bank account they already have.

When does correspondent banking still make sense?

When you need a currency pair a stablecoin network doesn’t cover yet. Many teams send covered corridors through Elytra and keep banks for the rest.

Try it on your corridor

Tell us the route and the volume. We’ll show you what it costs on Elytra.