Star: Stablecoin Payments Balance Security Compliance with Efficiency Gains, Set to Accelerate into Mainstream Adoption in the Coming Years

September 30th - During the "The New Money Era" themed event of the OKX Alphas Summit, OKX CEO Star, CMO Haider Rafique, and OKX SG CEO Gracie Lin jointly took part in the "OKX Pay" themed roundtable discussion and had an in-depth conversation about payment innovation and future financial applications. In the discussion, Star mentioned that one of the most significant achievements in the past 12 to 13 years in the crypto industry is the globalization of Bitcoin. Bitcoin has become one of the most successful digital assets globally. Moreover, the second major achievement is stablecoins. The total market capitalization of stablecoins currently is close to 300 billion USD and is expected to grow rapidly in the next 1 to 2 years. Furthermore, Star pointed out that historically, the essence of payments has always been "peer-to-peer": from gold coins, silver coins to paper money, funds were controlled by individuals. However, in the digital age, money is held by financial institutions. Once an institution goes bankrupt, individuals usually have to rely on limited insurance protection. The emergence of blockchain and stablecoins has made it possible for payments to return to a "peer-to-peer," low-cost, and high-efficiency model. Especially in cross-border payments, stablecoins are expected to replace the current 1% to 3% credit card transaction fees and become the foundation of future payment infrastructure. In addition, with the development of multi-signature accounts, abstract accounts, and on-chain monitoring tools, stablecoin payments can ensure both security and compliance, enhance efficiency, and are expected to accelerate and enter mainstream daily life in the coming years.