Paypal Crypting President says that banks are a key to canceling Stablecoin capabilities

Banks should be part of Crypto for Stablecoins for success – that was the message from Jose Fernandez Da Ponte, Vice President of Digital Currencies in Paypal, during a panel discussion in the 2025 consensus in Toronto.

“This may seem intuitive, but you want banks in this space,” said Fernandez da Ponte, adding that its infrastructure-from the nursery to providing light bars-will be necessary if Stablecoins want to expand their scope beyond the academic circles. “You want this connection and this fabric works.”

His remarks came amid efforts to bring in the organizational clarity of digital assets in the United States, with legislators The incident is closer To pass Stablecoin legislation that can redefine the market and allow banks to enter the space.

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“This will be a great opening,” said Anthony Suhoh, Chairman and CEO of Moneygram, a cross -border money transfer service. “There is always hesitation: Can I trust this? [The stablecoin legislation] He will answer a lot of these questions. “

Both executives said they expect a wave of new sources to enter the market as soon as the list is in place, followed by a period of monotheism. “It will not be 300 stablecoins, and it will not only be,” said Fernandez da Ponte.

Currently, Tether’s Usdt USDT$1.00 And Circle’s USDC USDC$0.99994 It dominates the market, and represents approximately 90 % of the $ 230 billion assets category. Pyusd Paypal pyusd$0.99955It was launched in 2023, fails to supply $ 900 million. Fernandez Da Ponte pushed the market ceiling as a basic measure of success. “We look at the speed, active portfolios and the number of transactions,” he said. “This is what drives real use.”

In high -inflation countries and volatile currencies, consumers are looking for a dollar -backed Stablecooins as a valuable stores and tools for cross -border payments. Suwao said that Moneygram, which operates in more than 200 countries, has nearly half a million monetary access sites, helps in facilitating this access.

“We see ourselves between material financing and digital financing,” said Soooo. “Many consumers in local economies want to keep the value of the dollar, but they still need to reach it as a criticism of spending in places that do not take the digital currency.”

Stablecoin’s adoption in developed countries, at the same time, was slower. Fernandez Da Ponte indicated that with a clear organization, cabinets can be simplified for companies and boundary disbursement.

“We are used to be this crazy rush on Friday to ensure that the money was in the right places before the weekend,” he said. “Now we send money to the Philippines and Africa in ten minutes with Stablecoins.”

Both executives have noticed that usage cases in the real world, not noise, will determine whether Stablecoins can reach Trillion dollars In the coming years that were dropped.

“Consumers do not care about Stablecoins. They are interested in solving problems.” Fernandez da Ponte said. “We are five years after a ten -year trip, and the regulations will be determined the next half.”