Airwallex CEO Questions the Utility of Stablecoins: Difficult to Replace Traditional Cross-Border Payments

Blockbeats
06-08

BlockBeats News, June 8th, Airwallex Co-founder and CEO Jack Zhang posted on X Platform questioning the practical use of stablecoins.

“Investors keep asking me questions about stablecoins and how they reduce foreign exchange costs; 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 stablecoin to the receiving currency is much higher than the FX interbank market. Cryptography is an area that has not been understood, and no use case of cryptography has been seen in the past 15 years.”

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