Airwallex CEO questions the practicality of stablecoins: unable to drop forex costs and lacks application scenarios.

robot
Abstract generation in progress

Jack Zhang, co-founder and CEO of Airwallex, questioned the actual use of stablecoins in a post on social media. He stated: Investors keep asking me about stablecoins and how they drop forex fees; if you transfer money from USD to EUR and the recipient still needs to receive EUR in their bank, I see no way stablecoins can reduce costs — the conversion cost from stablecoins to the receiving currency is much higher than the forex interbank market. Encryption technology is an underappreciated field, and there have been no practical applications of encryption technology in the past 15 years.

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 10
  • Repost
  • Share
Comment
0/400
No comments
  • Pin

Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)