Gate News bot message, Airwallex co-founder and CEO Jack Zhang expressed his views on the practical applications of stablecoins. He pointed out that the cost of converting stablecoins into fiat currency is higher than the trading fees in the traditional interbank forex market. Even if the stablecoin itself maintains price stability, it does not demonstrate a cost advantage when the receiving party needs to credit it in local currency (such as EUR).
Jack Zhang also expressed his observations on the current state of cryptocurrency development, stating that “after 15 years, we still haven’t seen real use cases for cryptocurrency.” He emphasized that “issuing currency is the responsibility of central banks” and positioned stablecoins as financial speculation tools.
Source of information: Wu Shuo
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