#稳定币发展 Seeing Airwallex's latest round of financing, I have to say a few honest words. An $8 billion valuation with a 30% rise in financing looks impressive on the surface, but looking closely at their moves—forming a stablecoin platform team. This is interesting.

The financing in the payment track is indeed hot, but don't be blinded by valuation figures. I've seen too many projects where the more rounds of financing and the higher the valuations, the greater the risk. This is especially true for stablecoins; in the past two years, how many projects have used the banner of stablecoins to exploit investors, and what happened? They either ran away or got taken down by regulation.

Airwallex itself is a compliant payment company, which is a basic guarantee. But when entering the stablecoin space, one must ask themselves a few questions: Do they really understand the on-chain ecosystem? The competitive landscape for stablecoins is already quite crowded; where is their differentiation? Are they just trying to leverage this hot topic to raise funds, with limited actual execution capability?

Just because the financing is attractive doesn't mean the product and operations are. My advice is to observe rather than follow the trend. Look at the performance of their stablecoin product when it is actually launched, the feedback from the on-chain ecosystem, and the regulatory attitude; these are the real criteria for judging value. Don't rush in just because of a big name or a lot of financing; the secret to surviving on-chain for a long time is to remain skeptical.