Airwallex and Co-founder re-evaluate stablecoins: The real purpose is to build an Internet currency ecosystem

PANews reported on June 14 that Jack Zhang, co-founder and CEO of enterprise payment and financial platform Airwallex, commented on stablecoins again: Most people misunderstand stablecoins as being for global monetary flow. The true purpose of stablecoins is to build a "monetary ecosystem" for the internet. Stablecoins are the currency of the internet, but the biggest challenge is how to prove it is "clean money". Only platforms with distribution capabilities can achieve this, such as Stripe, Revolut, and Airwallex, which have the technical ability 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 returns, which is also the position of central banks worldwide. For many startups, this is bad news... Stablecoins are not a technological game, but a distribution game, and many tech platforms have both technology and distribution.