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.
You may also like
The AI arms race extends upstream! Reports say Intel, Nvidia, and AMD are prepaying over 100 billions NTD to secure advanced IC substrate production capacity.
NVIDIA, Intel, and AMD have collectively spent $5 billion in advance payments to aggressively secure high-end IC substrates from Taiwan. Driven by "big money for guaranteed orders," the top three Taiwanese substrate manufacturers have invested a record NT$161.2 billion to expand their production capacity. The tech giants' substantial financial commitments to secure supply chains highlight the intense competition and extreme scarcity of core AI materials.
Brent Crude Oil Hits $116 as Markets Weigh Another Inflation Shock
S&P rewrites stock classification rules! $375 billions in funds may be forced to rebalance, major reshuffle for growth and value stocks
After S&P Dow Jones Indices adopts new stock classification rules, growth stocks and value stocks will undergo a reshuffling.
Crypto prices
More
