On June 8, news broke that a co-founder and CEO of a fintech company questioned the actual use of stablecoins on a social platform. “Investors keep asking me about stablecoins and how they drop forex costs; if you transfer money from USD to EUR, and the recipient still needs to receive EUR at their bank, I don’t see how stablecoins can drop costs— the conversion cost from stablecoin to the receiving currency is far higher than the forex interbank market. Encryption technology is an underappreciated field, and we haven’t seen any application cases 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.
Fintech executives question the practicality of stablecoins: no actual application of encryption technology seen in 15 years.
On June 8, news broke that a co-founder and CEO of a fintech company questioned the actual use of stablecoins on a social platform. “Investors keep asking me about stablecoins and how they drop forex costs; if you transfer money from USD to EUR, and the recipient still needs to receive EUR at their bank, I don’t see how stablecoins can drop costs— the conversion cost from stablecoin to the receiving currency is far higher than the forex interbank market. Encryption technology is an underappreciated field, and we haven’t seen any application cases of encryption technology in the past 15 years.”