Borderless.xyz has unveiled the Borderless Benchmark, a transparent and community-driven reference for stablecoin-to-fiat exchange rates, built on its global payments network of regulated on- and off-ramp providers. This open-access dataset aims to bring clarity to the fragmented stablecoin market, offering a credibly neutral snapshot of how stablecoins like USDC, USDT, and EURC trade against local currencies worldwide.

Stablecoins facilitate billions in cross-border payments monthly, yet the lack of a unified reference point for foreign exchange (FX) rates across venues, currencies, and blockchains has been a persistent challenge. Providers display varying prices, making it difficult for fintechs, payment service providers (PSPs), and enterprises to assess fair pricing. This fragmentation has slowed real-world stablecoin adoption. The Borderless Benchmark tackles this issue by providing a verifiable, aggregated dataset of stablecoin FX rates, accessible to all.

Currently in open beta (v0.1), the Borderless Benchmark aggregates rate data from global on- and off-ramp providers. It reports average buy and sell rates, as well as observed highs and lows, across multiple stablecoins, fiat pairs, and blockchains. Future updates will include volatility and dispersion analytics, with expanded coverage as more partners join the initiative.

Borderless.xyz emphasizes its role as a neutral convener, not a liquidity provider. By connecting wallets, blockchains, and liquidity venues without bias, Borderless ensures the benchmark remains an impartial, community-owned resource. This credible neutrality positions it as a trusted standard in an industry seeking shared infrastructure without centralized control.

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https://borderless.xyz/insights/introducing-the-borderless-benchmark-bringing-clarity-to-stablecoin-fx-rates