Jack Zhang, co-founder and CEO of Airwallex, recently voiced his skepticism regarding the value of stablecoins, leading to an intense debate within the crypto community. His opinion ignited public outcry, highlighting the growing tension between traditional financial systems and emerging payment technologies. While traditional players like Airwallex rely on existing infrastructure for their business model, Zhang sees stablecoins as redundant due to the current efficiency and low costs offered by interbank FX markets. However, this viewpoint is challenged by the growing acceptance of stablecoin use cases, particularly in cross-border payments, where they offer a new avenue for financial participation that goes beyond traditional banking infrastructure.