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.”
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.