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first_img Airwallex founder: Stablecoins will develop within the regulatory frameworks of various countries

Cross-border payment company Airwallex co-founder and CEO Jack Zhang stated that stablecoins are becoming an important channel for global capital flow, but sovereign financial systems still determine how to incorporate them, rather than the other way around. As the adoption of stablecoins grows, this trend will intensify. The Central Bank of Brazil has included virtual asset services in its foreign exchange and international capital regulatory framework, Vietnam is working on building a regulated crypto market while banning crypto assets as a means of payment, and the Philippines has indefinitely extended the suspension of virtual asset service provider licenses, all indicating that the adoption of stablecoins will occur within the regulatory frameworks of various countries.He noted that technology is making business more globalized, while financial sovereignty is becoming more localized, and governments will continue to set their own rules for currency, data, identity, and payments. The most enduring stablecoin infrastructure needs to connect sovereign financial systems, provide deep liquidity, and offer reliable conversion between stablecoins and fiat currencies for businesses. Airwallex, with a focus on corporate accounts, has obtained a central bank payment institution license in Brazil and acquired MexPago, the holder of the IFPE license in Mexico, to access the local financial systems of major economies in Latin America. It bets that AI and stablecoins will drive more global business, making regulated local connections more valuable.
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