Coins.ph CEO says why hyper-tokenization will trump hyper-Bitcoinization
Wei Zhou, CEO of Coins.ph, argued that hypertokenization is a far more viable scenario than hyperbitcoinization.
talk Kikko newsZhou offered his view on how large-scale adoption could take place, saying Bitcoin’s volatility would handicap it as a key factor in the adoption of the cryptocurrency on a global scale.
Hyper-Tokenization and Hyper-Bitcoinization
Host David Lin explained that hyperbitcoinization is the moment Bitcoin becomes the default value system. He asked Zhou how this scenario would play out.
Zhou argued that trading requires price stability, and that stable bitcoin removes the price appreciation aspect of investing in it in the first place.
To that end, he called the tipping point described by Lin “hypertokenization,” preferring to refer to tokens (other than Bitcoin) that can meet tradability through price stability.
“When signing a $10 transaction, whether it is denominated in Pesos, Singapore Dollars or Thai Baht, whatever the value of signing, both sides must agree that this is the value of $10. .”
Stablecoin Adoption Will Drive Broader Crypto Adoption
Zhou said the stablecoin market is a growing area, as evidenced by the collective push for the deployment of central bank digital currencies (CBDCs).
“We will see more and more tokens like stablecoins that enhance the value of exchange in different countries.”
Tokenization at scale will lead to more users participating in the crypto ecosystem. He initially corrected Lynn about triggering mass adoption, but the knock-on effect of more stablecoin users would catalyze adoption of other tokens, including Bitcoin.
