Changpeng Zhao: "Stablecoins are Superior to CBDCs"
Uk Jin
Summary
- Changpeng Zhao stated that stablecoins can be used in more transactions than CBDCs, resulting in higher market acceptance.
- He conveyed that stablecoins are mostly assets backed by real collateral and support.
- Because of the lack of demand, there are almost no cases of CBDC adoption, and China and Hong Kong are actively working on building the stablecoin ecosystem.
Binance founder Changpeng Zhao stated that stablecoins (virtual assets pegged to fiat currencies) are better than central bank digital currencies (CBDCs).
Attending WebX in Tokyo, Japan, on the 25th (local time), Changpeng Zhao said, "Stablecoins are mostly assets backed by real collateral and support," adding, "They can be used in more transactions than CBDCs and have higher market acceptance."
He continued, "On the other hand, CBDCs are gradually disappearing due to lack of demand and there are almost no adoption cases at present," and added, "China, Hong Kong, and others are actively pursuing the development of the stablecoin ecosystem."
Uk Jin
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