According to reports, Airwallex co-founder and CEO Jack Zhang questioned the practical uses of stablecoins in a post on social media. He stated: Investors are constantly asking me questions about stablecoins and how they drop forex 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 that stablecoins can reduce costs - the conversion cost from stablecoins to the receiving currency is far higher than the forex interbank market. Encryption technology is an underappreciated field, and there have been no application cases for encryption technology in the past 15 years.
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Airwallex co-founder and CEO questions the practicality of stablecoins: difficult to drop forex fees
According to reports, Airwallex co-founder and CEO Jack Zhang questioned the practical uses of stablecoins in a post on social media. He stated: Investors are constantly asking me questions about stablecoins and how they drop forex 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 that stablecoins can reduce costs - the conversion cost from stablecoins to the receiving currency is far higher than the forex interbank market. Encryption technology is an underappreciated field, and there have been no application cases for encryption technology in the past 15 years.