PANews reported on May 16th that according to CoinDesk, Jose Fernandez da Ponte, head of PayPal's digital currency business, stated at the Consensus 2025 conference that bank participation is crucial for stablecoin development. He pointed out that banks' role in infrastructure such as custody and fiat currency channels will help stablecoins break through the crypto-native user circle. The MoneyGram CEO simultaneously emphasized that U.S. stablecoin legislation is key to driving market trust and adoption.
This discussion comes at a critical stage of U.S. stablecoin legislation, which, if passed, will allow banks to enter the field. The two executives also discussed emerging market stablecoin application scenarios and future market integration trends. Since launching PYUSD stablecoin in 2023, PayPal has been continuously promoting compliant development.
