I use Wise regularly and pay about 0.5% for EUR/GBP/CHF transactions. The reason why DeFi exchanges offer low fees is that they are not “companies”, they are f

I use Wise regularly and pay about 0.5% for EUR/GBP/CHF transactions. The reason why DeFi exchanges offer low fees is that they are not “companies”, they are fully automated and have no overhead. For a company offering forex services the main expense are salaries, not fees (that on wholesale markets are on the order of 0.01%), therefore they would not benefit from using a blockchain as an underlying layer.