🔵PayPal Executive: Bank Participation is Crucial for Stablecoin Development DeThings, May 16 – According to CoinDesk, Jose Fernandez da Ponte, PayPal's head of digital currency business, stated at the Consensus 2025 conference that bank participation is essential for the development of stablecoins. He emphasized the role of banks in custody, fiat currency channels, and other infrastructure, which will help stablecoins expand beyond the crypto-native user base. MoneyGram's CEO also highlighted that U.S. stablecoin legislation is key to fostering market trust and adoption. This discussion comes at a critical juncture as U.S. stablecoin legislation enters a pivotal stage. If the bill passes, it will allow banks to enter this field. The two executives also explored the application scenarios of stablecoins in emerging markets and future market integration trends during the conference. Since launching the PYUSD stablecoin in 2023, PayPal has been actively promoting compliance-driven development.

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