Airwallex CEO: Stablecoins Are Unlikely to Replace Traditional Cross-Border Payments
Airwallex co-founder and CEO Jack Zhang questioned the practical use of stablecoins in a post on the X platform.
He stated: Investors keep asking me about stablecoins and how they reduce foreign exchange fees; if you transfer money from USD to EUR and the recipient still needs to receive EUR in their bank, I don't see any way stablecoins can reduce costs—the conversion cost from stablecoins to the recipient currency is much higher than the interbank forex market. Cryptocurrency is a misunderstood field, and in the past 15 years, no application cases of cryptocurrency have been seen.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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