CZ: Stablecoins could reduce cross-border remittance fees to near zero

On July 31, 2026, Binance founder CZ @cz_binance said in an interview at the ASEAN Tech Summit that stablecoins and blockchain technology could potentially reduce cross-border remittance fees in the Philippines to nearly zero. The Philippines receives around $35 billion in remittances annually, while traditional remittance fees generally range from 5% to 7%, and can reach as high as 10%. He believes reducing fees should be the top priority for stablecoin adoption, while blockchain can also significantly improve transfer speeds and enable more efficient cross-border payments.