I would estimate as a business that it costs me an additional 2% to accept stablecoins over simple wire / ACH. For customers with stablecoin balances it's almost always easier to *send* stables: - instant test txn - instant settlement - "flight tracking" via block explorer - close to 0 fees But as a receiver, there's a much higher operating burden. Here's the workflow for accepting wires: - send invoice to customer via Quickbooks, including wire instructions in PDF - confirm wire instructions over phone (best practice, but in reality I don't do it) - customer wires; wait 1-3 days - funds hit Mercury account and are spendable immediately - Quickbooks invoice automatically confirmed paid, AR report updated And here's the stablecoin workflow: - send invoice to customer via Quickbooks - send receiving address instructions - confirm network and request test transaction - confirm test transaction, request full send - receive $USDC transaction to Coinbase - remit funds to Mercury; wait 1-3 days ("instant" withdrawal costs $100-200) - manually close Quickbooks invoice as paid - manually update AR report - manually tag transaction with customer name (otherwise all transactions are simply from Coinbase) - and all of this has to be done immediately, otherwise it gets mixed into one big Coinbase balance and it becomes impossible to untangle EOY So: - stablecoins practically take the same amount of time (1-3 days) - they require 4-5 extra manual touchpoints - they don't automatically reconcile, so someone with less context on the business would have to follow a paper trail vs. simply looking at Quickbooks I'd guess this overhead is 2% friction over traditional rails, mostly in operating labor and owner mental overhead. The way this has to improve is via a stablecoin-native neobank (of which there are many starting right now). That neobank has to be at feature parity at Mercury in order for me to switch--a tall order given Mercury is (in my opinion) a best-in-class financial front-end. I'm beyond pleased with my experience with Mercury and the product geniuses there seem to anticipate every need I have while proactively designing the interface to intercept and eliminate friction. I'm rooting for a provider built on stablecoin payment rails that can actually take advantage of the speed and transparency of stablecoins while also meeting all the boring reconciliation and accounting needs of a business.

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