Star: Stablecoin payments combine security compliance and efficiency, accelerating into public life in the coming years

During the "The New Money Era" theme event at the OKX Alphas Summit, OKX CEO Star, CMO Haider Rafique, and OKX SG CEO Gracie Lin jointly attended the "OKX Pay" theme roundtable dialogue to have in-depth exchanges on payment innovation and future financial applications. When talking about the vision of cryptocurrency payments during the discussion, Star said that one of the biggest achievements of the crypto industry in the past 12 to 13 years is the globalization of Bitcoin. Bitcoin has become one of the most successful digital assets in the world. In addition, the second largest achievement is stablecoins. The total market capitalization of stablecoins is currently close to $300 billion, and it is expected to grow further rapidly in the next 1 to 2 years.
In addition, Star further points out that, throughout human history, payments have been inherently "peer-to-peer": from gold and silver coins to paper money, funds are controlled by individuals. However, in the digital age, currencies are held by Financial Institution Groups, and individuals often have to rely on limited insurance protection once the institution goes bankrupt. The emergence of blockchain and stablecoins offers the possibility for a return to a "peer-to-peer", low-cost and efficient model of payments. Especially in cross-border transfers, stablecoins are expected to replace the current 1% to 3% credit card fees as the infrastructure for future payments. At the same time, with the development of multi-signature accounts, abstract accounts, and on-chain monitoring tools, stablecoin payments can ensure both security compliance and efficiency, and are expected to accelerate into public life in the coming years.