PANews reported on May 16 that according to CoinDesk, Jose Fernandez da Ponte, head of PayPal's digital currency business, said at the Consensus 2025 conference that bank participation is crucial to the development of stablecoins. He pointed out that the role of banks in infrastructure such as custody and legal currency channels will help stablecoins break through the circle of crypto-native users. At the same time, MoneyGram CEO emphasized that US stablecoin legislation is the key to promoting market trust and adoption.
The discussion comes at a critical stage in the US stablecoin legislation, which will allow banks to enter the field if the bill is passed. The two executives also discussed the application scenarios of stablecoins in emerging markets and future market integration trends at the meeting. Since launching the PYUSD stablecoin in 2023, PayPal has continued to promote compliance development.
