PayPal asserts that banks are critically important for realizing the potential of stablecoins. As noted by PayPal’s Senior Vice President of Digital Assets, José Fernandez da Ponte, at the Consensus 2025 conference, banking infrastructure provides access to fiat funds, allowing stablecoins to extend beyond the crypto industry.
This is reported by Finway
The Role of Banks in the Development of Stablecoins
Fernandez da Ponte emphasized that banks must be integrated into the value chain of digital assets, even if this may seem illogical. MoneyGram CEO Anthony Noto added that this integration could represent a significant step forward, as consumers will receive answers to key questions regarding trust in new technologies.
Market Prospects for Stablecoins
Both speakers highlighted that after the implementation of regulation, the market anticipates new issuers and a phase of consolidation. While USDT and USDC currently lead the market, PayPal representatives stressed that capitalization is not the main criterion for success. They assess the effectiveness of their stablecoin PYUSD based on the number of active wallets, transactions, and circulation speed.
According to Fernandez da Ponte, “Consumers don’t care about stablecoins themselves. What matters to them is that their problems are solved. We have completed half of a decade-long journey, and regulation will determine what the second half will look like.”
It is also worth noting that there is an active discussion in the U.S. regarding a stablecoin bill titled Guiding and Establishing National Innovation for U.S. Stablecoins. Hearings for its adoption are scheduled for May 19, 2025.