Stablecoins are rising from being a crypto "tool" to a global financial infrastructure, but does traditional finance truly understand its value?👇

On June 8, Jack Zhang, co-founder and CEO of cross-border payment unicorn Airwallex, posted that stablecoins have not demonstrated cost advantages in G10 currency trading and have not created substantial value in real financial markets over the past 15 years.

This statement immediately sparked widespread responses from the crypto industry. Several industry professionals pointed out that Jack only focused on the conversion cost of "withdrawals," ignoring the more core value of stablecoins: on-chain settlement efficiency, composability, and global accessibility.

— Huma co-founder stated: The real high cost is not the conversion fee, but the traditional financial system itself.

— Sardine executive believes: The advantage of stablecoins lies not in the rate but in building an "open financial track."

— BitGo CEO even said: Stablecoins drive the digitalization of the US dollar, accelerating its global circulation status.

Now, stablecoins are widely used in emerging markets like Latin America and Southeast Asia for salary payments, daily consumption, and anti-inflation. They not only break through the traditional bank account threshold but also give users the ability to "manage their funds on-chain autonomously."

It's worth noting that countries are also accelerating the establishment of stablecoin regulatory frameworks: the US GENIUS Act, Hong Kong's Stablecoin Ordinance, and pilot programs in Singapore and the UAE, all signify that it is entering the mainstream of compliance.

The rise of stablecoins is not an opposition to the existing financial system but a complement to its unreachable boundaries; it is not "replacing banks" but reshaping the role of "banks" in the digital era.

The current discussion should not stop at "whether stablecoins are needed," but rather: Are we ready to embrace the structural changes they bring?