Polygon Foundation CEO: 6% Fees on Cross-Border Remittances Could Be Eliminated
Polygon Foundation CEO Sandeep Nailwal quoted a famous saying by Bezos, stating that the cross-border capital flow has maintained a fee rate of about 6% for many years, which the industry still refers to as a business cost.
He pointed out that this has always been a profit margin borne by remitters, and now that profit has become optional.
Traditional rates are being compressed by blockchain and stablecoins, with funds flowing from intermediary fees to lower-cost channels; event-driven factors are maturing crypto payment infrastructure, benefiting remittance users and on-chain payment protocols, while traditional remittance giants are under pressure.
Source: Public Information
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Sandeep, as the founder of Polygon, has long promoted on-chain payments and stablecoin applications, previously emphasizing the transition of crypto from speculation to real use cases; high fees in cross-border remittances have long existed, and stablecoins and L2 networks are providing near real-time, low-cost alternatives.
This statement positions the industry's profit margin as an intermediary layer that can be eliminated by technology, with the motivation to accelerate the adoption of public chains like Polygon in payment scenarios; similar to Bezos's path of disrupting retail through low profits, funds are flowing from banks and remittance companies to on-chain settlement.
This viewpoint is similar to other crypto leaders' critiques of traditional financial friction; currently, cross-border payments are in a transition phase from high-fee intermediaries to programmable low-cost networks.
Essentially, this represents a transfer of pricing power: technology compresses intermediary profits, driving fees from fixed high levels to near-zero marginal costs, accelerating the replacement of global capital flow infrastructure.
ABAB News · Law of Cognition
Your profit is my opportunity
So-called costs are often just uneliminated intermediary layers
Technology makes what was once inevitable optional