The East Asia head of the financial giant SWIFT poured some "cold water" on stablecoins at WebX2025, stating that stablecoins will not disrupt the existing financial system. Their core value lies in serving specific niche clients and scenarios. As long as banks exist, SWIFT's traditional cross-border payment model will coexist with stablecoins in the long term.

This statement sounds a bit "old-school," but it is actually the truth. The underlying message from SWIFT is: "You folks playing with new technologies will ultimately have to rely on us to establish standards and interoperability, otherwise, you'll just end up with a bunch of data silos."

While saying you can't disrupt me, they are also collaborating with Japanese and Korean institutions to explore how to use stablecoins. This operation is too classic. They publicly say no, but their actions show otherwise; no TradFi giant wants to be left behind in the next wave of financial innovation.