PayPal executive: Stablecoins need banks to participate to unleash their full potential

Odaily Planet News: At the Consensus 2025 conference, Jose Fernandez da Ponte, Senior Vice President of Digital Currency at PayPal, stated: "You indeed want banks to participate in this field," and that banking infrastructure "will be crucial for stablecoins to achieve scale beyond the crypto native ecosystem." MoneyGram CEO Anthony Soohoo said that U.S. stablecoin legislation "will unlock enormous potential" and "will answer many questions about trust." Both predicted a new wave of issuance after clear regulation, followed by market consolidation. "There won't be 300 stablecoins, nor just two," Fernandez da Ponte emphasized, adding that they are looking at circulation speed, active wallets, and transaction numbers - which truly represent actual usage. Soohoo added that in high-inflation countries, consumers view U.S. dollar stablecoins as a value preservation tool. Both executives pointed out: "Consumers don't care about stablecoins; they care about whether problems can be solved."