The elevator pitch was simple: transfer spending money to the UK using USDT instead of relying on a SWIFT transfer, then benchmark the total landed cost. A project that if failed would mean that I had not wasted copious amounts of moneys in bank fees overseas, however if successful would send me into a spiral of depression
Hypothesis
Can a South African bank account fund a UK bank account faster and cheaper using stablecoins versus a traditional SWIFT transfer?
Constraints
Use consumer-grade tools only (Luno, Revolut X, Revolut banking), automate via Python where possible, and keep the pilot ticket at R300.
Success Criteria
Measure total spread + fixed fees, settlement speed, and user experience. Compare to Nedbank’s published FX schedule.
The Game Plan
- Buy USDT on Luno using ZAR.
- Send the USDT via an on-chain transfer to Revolut X in the UK.
- Convert USDT to GBP inside Revolut X and withdraw to my Revolut bank account.
- Record spreads, network fees, fixed service charges, and time stamps at every hop.
The full breakdown of each phase lives in the final section of this project. This page just sets the rules of engagement so the rest of the write-up stays grounded.