$ETH The CEO of Airwallex questions the viability of stablecoins

In a recent statement through the X platform, Jack Zhang, co-founder and CEO of Airwallex, expressed his concerns about the practical effectiveness of stablecoins in the financial transfer sector.

🔹 Zhang questioned the viability of using stablecoins, noting that converting US dollars to euros through a stablecoin does not exempt the recipient from the need to receive the actual euros in their bank account.

🔻 He emphasized that:

> "The conversion costs from stablecoins to the recipient's local currency remain much higher than the exchange rates between traditional banks."

He also pointed out that the cryptocurrency sector remains "totally immature," adding that the technology has not presented large-scale applications in the last 15 years, which increases uncertainty about its effectiveness in the real economy.

📌 Conclusion:

Despite the momentum around stablecoins as a new financial tool, questions persist about their practical viability, especially in transfer environments and economies based on traditional banking.