According to CoinMeta, Binance founder CZ stated in an interview at the ASEAN Technology Summit that through stablecoins and blockchain technology, it is possible to reduce cross-border remittance fees in the Philippines to near zero. The Philippines receives approximately $35 billion in remittances from abroad each year, but traditional remittance fees generally range from 5% to 7%, with some reaching as high as 10%. He believes that reducing fees is the most urgent issue that needs to be addressed in the application of stablecoins, and at the same time, blockchain can significantly improve transfer speeds, enabling more efficient cross-border payments.