CoinVoice has recently learned that Jack Zhang, co-founder and CEO of Airwallex, questioned the practical use of stablecoins in a post on platform X.

He stated: Investors constantly ask me questions about stablecoins and how they reduce foreign exchange fees; if you transfer money from USD to EUR, and the recipient still needs to receive EUR in their bank, I don't see how stablecoins can reduce costs — the conversion cost from stablecoins to the receiving currency is far higher than the foreign exchange interbank market. Cryptocurrency technology is a field that has failed to be understood, and we have not seen any use cases for cryptocurrency technology in the past 15 years. [Original link]