Do We Really Need Stablecoins?

The discussion centered on stablecoins' ability to deliver faster, cheaper, and more accessible cross-border payments. This addresses a persistent pain point for businesses and individuals engaged in international transactions, suggesting a practical application for blockchain-based financial tools beyond speculative investment. The panel also considered how stablecoins compare with tokenized deposits.

Opportunities and challenges for ringgit and other local-currency stablecoins were discussed, indicating an interest in tailored solutions that could address specific regional economic needs. This suggests a move beyond generic stablecoin concepts toward more localized financial tools.

For stablecoins to become everyday financial infrastructure, the panel identified liquidity, regulation, and collaboration as critical factors for adoption. These elements are interdependent: clear regulation can foster liquidity by increasing confidence, and industry collaboration can help establish common standards, both of which are necessary for widespread use.