#CryptoSecurity101

According to BlockBeats, the co-founder and CEO of Airwallex, Jack Zhang, recently expressed skepticism about the practical applications of stablecoins. Zhang raised concerns on platform X about the effectiveness of stablecoins in reducing foreign exchange transaction costs. He questioned the process of converting money from US dollars to euros, pointing out that the recipient still needs to receive euros in their bank account. Zhang argued that the conversion costs from stablecoins to the recipient's currency are significantly higher than those of the interbank foreign exchange market.

Zhang also commented on the broader field of cryptocurrencies, suggesting that it remains an area that has not been fully understood. He noted that in the last 15 years, there have been no significant use cases for cryptocurrency technology.