TechFlow news, June 8 — Jack Zhang, co-founder and CEO of Airwallex, questioned the practical use of stablecoins in a post on X platform, stating: "Investors keep asking me about stablecoins and how they reduce foreign exchange fees; if you're sending money from USD to EUR and the recipient still needs to receive EUR in their bank account, I don't see any way stablecoins can lower costs—the conversion cost from stablecoin to the receiving currency is much higher than interbank FX markets. Cryptotechnology remains an area that has never been properly understood, and over the past 15 years we've yet to see any real-world application cases for cryptocurrency."
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