Stablecoins are transitioning from encrypted "tools" to global financial infrastructure, but do traditional finance really understand their value? 👇 On June 8th, Jack Zhang, co-founder and CEO of cross-border payment unicorn Airwallex, stated in a post that stablecoins are difficult to demonstrate cost advantages in G10 currency transactions and have not seen them create substantial value in actual finance over the past 15 years. This statement immediately triggered a widespread response from the cryptocurrency industry. Several practitioners have pointed out that Jack only focuses on the exchange cost of the "withdrawal" process, while neglecting the core values of stablecoins: on chain settlement efficiency, composability, and global access. Huma Lianchuang frankly stated: What is truly expensive is not exchange fees, but the traditional financial system itself Sardine executives believe that the advantage of stablecoins lies not in fees, but in building an "open financial track" The CEO of BitGo even stated that stablecoins driving the digitization of the US dollar will accelerate its global circulation status Nowadays, stablecoins have been widely used in emerging markets such as Latin America and Southeast Asia for wage payments, daily consumption, and inflation control. It not only breaks the traditional bank account threshold, but also gives users the ability to "manage funds independently on the chain". It is worth noting that countries are also accelerating the establishment of stablecoin regulatory frameworks: the GENIUS Act in the United States, the stablecoin regulations in Hong Kong, and pilot programs in Singapore and the United Arab Emirates all indicate that it is entering the mainstream of compliance. The rise of stablecoins is not a confrontation with the existing financial system, but rather a supplement to the boundaries it cannot reach; It is not a 'replacement bank', but a reshaping of the role of 'banks' in the digital age. The current discussion should not be limited to whether stablecoins are needed, but rather whether we are ready to embrace the structural changes it brings?