PayPal Executive: Stablecoins Require Bank Participation to Unleash Full Potential

PayPal At the Consensus 2025 conference, Jose Fernandez da Ponte, senior vice president of digital currencies at PayPal, said that “you do want banks to be involved in this space” and that the bank’s infrastructure “will be critical for stablecoins to scale beyond the crypto-native sphere.” MoneyGram CEO Anthony Soohoo said that the US stablecoin legislation “will unlock great potential” and “will answer a lot of questions about trust”. The duo expects a new wave of issuance to be ushered in after the regulation is clarified, followed by market consolidation. “There won’t be 300 stablecoins, and there won’t be just two.” Fernandez da Ponte emphasized that “we are looking at the velocity of circulation, the number of active wallets, the number of transactions”, which is what is actually used. Soohoo added that in high-inflation countries, consumers see USD stablecoins as a store of value. “Consumers don’t care about stablecoins, they care about solving problems,” both executives noted. ”