CZ Calls for Zero-Fee Stablecoins to Revolutionize Cross-Border Payments

Binance co-founder Changpeng 'CZ' Zhao recently visited Manila for the ASEAN Tech Summit, where he participated in a panel discussion on the role of stablecoins in enabling borderless commerce.

The discussion centered around the challenges faced by overseas Filipinos who send remittances back home, with traditional money transfer fees consuming between 3% and 10% of those transactions. Zhao advocated for zero-fee or near-zero-fee stablecoin models to reduce cross-border transaction costs.

Zhao noted that platforms can remain sustainable without charging transaction fees by offering other revenue streams, such as making money from traders' fees. He also emphasized the importance of financial education and literacy in promoting digital asset adoption among ASEAN's unbanked population.