CZ Sees Stablecoins as Key to Global Financial Infrastructure
Binance founder Changpeng Zhao (CZ) believes that every country will eventually need its own stablecoin for domestic finance.
In a recent interview at the ASEAN Tech Summit, CZ emphasized the importance of regulatory dialogue in the growth of blockchain technology. He noted that founders must approach regulators with openness and transparency from the start, acknowledging that this can be challenging due to heavy workloads and limited access to policymakers for smaller startups.
CZ stressed the need for patience when navigating regulatory relationships over time, as building trust with regulators takes sustained effort rather than quick negotiation. He also addressed the current 'crypto winter' affecting market sentiment across the industry, stating that blockchain technology is not disappearing despite these challenging conditions.
The Binance founder separated individual project risks from the broader trajectory of blockchain adoption, which he expects to continue advancing due to growing demand for efficient payment systems and AI-driven finance. CZ cited slow processing times and high costs tied to cross-border remittances under current banking models as reasons a full reversal to traditional banking is unlikely.