🌝Airwallex CEO: Stablecoins Still Cannot Replace Traditional Cross-Border Payments at This Stage

Jack Zhang, Co-Founder and CEO of the cross-border payment unicorn Airwallex, published an article questioning the practical use of stablecoins.

He stated that even if stablecoins have stable prices, if the recipient still requires funds to be credited in the local currency (such as EUR), the conversion cost of stablecoins is much higher than traditional interbank foreign exchange markets, making it difficult to save costs.

Additionally, Jack bluntly stated that "there have been no actual use cases for cryptocurrency for 15 years" and called the issuance of currency the "responsibility of central banks," believing that stablecoins are merely financial speculation tools.