Gate Executive Director Edwin Cheung: Cross-Border Payments Poised to Become a Key Growth Driver for the Crypto Industry's Next Phase

Odaily reports that according to a recent AlphaWire report, Gate Executive Director Edwin Cheung said in an interview during TOKEN2049 Singapore that in the near future, payment services will become an important growth direction for Gate, serving individual and corporate users who have daily fund collection and payment needs rather than focusing solely on cryptocurrency trading. On October 7, Gate officially launched Gate Money, allowing users to open a global e-banking account in their own name through the Gate App and, as services gradually become available, receive payments in more than 60 local currencies, further connecting digital assets with everyday financial scenarios.

Edwin Cheung pointed out that stablecoins can reduce the number of correspondent banks involved in cross-border transfers and improve the transparency of fund flows. In the future, stablecoins are expected to coexist long-term with traditional bank transfers, instant payments, and QR code payments, and to play a greater role in cross-currency payments as related services develop in markets such as Europe, Asia, and the Middle East. By integrating fiat currency, digital assets, stocks, ETFs, and gold, Gate Money is committed to providing users with more convenient integrated financial services.

Regarding institutional business and security development, Edwin Cheung said institutional investors remain highly focused on liquidity and counterparty risk. Through the OES off-exchange settlement solution, Gate allows institutional clients' assets to remain with third-party custodians while still using Gate's liquidity and various trading services, and enhances asset transparency through proof of reserves. He emphasized that whether in institutional business or payment business, user trust is crucial, and Gate's compliance qualifications, comprehensive risk control system, and close cooperation with regulators in various markets are key to driving sustained business development.