Airwallex Lianchuang posted another comment on stablecoins: the real use is to build an Internet currency ecosystem

Jack Zhang, co-founder and CEO of Airwallex, a corporate payments and finance platform, once again commented on stablecoins, saying: Most people misunderstand that stablecoins are for global currency flows. The real use of stablecoins is to build the "currency ecosystem" of the Internet. Stablecoins are the currency of the Internet, but the biggest challenge is how to prove that it is "clean money". Only platforms with distribution capabilities can do 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 earnings, which is also the position of central banks around the world. This is bad news for many startups... Stablecoins are not technical games, but distribution games, and many technology platforms have both technology and distribution.