Airwallex co-founder publishes another article commenting on stablecoins: The real purpose is to build an Internet currency ecosystem

Jack Zhang, co-founder and CEO of the enterprise payment and financial platform Airwallex, once again commented on stablecoins, stating: Most people misunderstand stablecoins as being for global currency flow. The true purpose of stablecoins is to build the "currency ecosystem" of the Internet. Stablecoins are the currency of the Internet, but the biggest challenge is proving that it is "clean money." Only platforms with distribution capabilities can achieve this. Stripe, Revolut, and Airwallex all have such distribution capabilities, as well as the technology to build financial products on the Internet. Platforms with distribution capabilities can easily embed stablecoins into their products, convert existing "clean money" in the system into stablecoins, and issue new financial products to monetize them. The Genius Act prohibits issuers from paying profits, which is also the stance of central banks around the world. For many new startups, this is bad news... Stablecoins are not a technology game, but a distribution game. Many tech platforms have both technology and distribution.