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

On July 31, 2026, Binance founder CZ 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.