CZ says failure to adopt blockchain could leave cross-border payments slow and costly, urging digital finance innovation.
Binance founder Changpeng Zhao (CZ) stated on July 31, 2026, that the worst-case scenario for digital finance is maintaining the current banking system without blockchain adoption. He highlighted persistent issues like high intermediary fees and slow cross-border remittances, particularly in countries such as the Philippines, as key drawbacks of stagnation.
CZ noted that central bank digital currencies (CBDCs) could rival stablecoins if they achieve high user-friendliness and seamless integration. He dismissed the likelihood of financial innovation stalling, citing growing demand for faster payments driven by advancements in artificial intelligence and transaction throughput.
The remarks were made during an interview at the ASEAN Tech Summit, emphasizing the need for continued progress in digital finance to avoid inefficiencies in global payments.