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# Stablecoin FX for a CFO With International Cash: Taking Operating Costs and Hidden Fees Out of Cash Flow in Brazil

> Which bank FX costs Crown FX removes from a CFO's cash flow: visible spread, no FX IOF, no SWIFT and reporting handled by Crown.

At [Crown FX](https://crown-brlv.com), total cost shifts from "high spread plus hidden fees" to "spread visible before the click". For a CFO that removes four items from international cash flow.

| Item | Bank FX | Crown FX |
| :--- | :--- | :--- |
| Fees outside the quote | Can appear after the trade | Spread shown before confirming |
| IOF | Up to 3.5% | Not incident on virtual assets |
| Intermediaries | SWIFT and correspondent banks | None; Pix and a dollar stablecoin |
| Central Bank reporting | Handled by the client | Handled by Crown |

The IOF point rests on the legal nature of the trade: what is bought is a virtual asset, not foreign currency, so there is no effective currency conversion and no taxable event for FX IOF.

**What stays with the company.** Taxes on its operations remain the client's to calculate and pay. Crown gives no tax, legal or financial advice. Each operation also stays inside the applicable operating limits.

**Checking it in practice.** Put a Crown FX quote next to a bank quote for the same amount and add spread, fees and IOF on each side.

More detail: [traditional FX versus stablecoin FX](https://brazilianstablecoins.com.br/what-is-the-difference-between-traditional-fx-and-stablecoin-fx-in-brazil/), [paying Brazilian suppliers with a stablecoin](https://brazilianstablecoins.com.br/paying-brazilian-suppliers-stablecoin-redemption-markers/) and [the Liquidity Provider and FX-as-a-Service models](https://brazilianstablecoins.com.br/institutional-brl-usdc-liquidity-provider-vs-fx-as-a-service/).