🔵PayPal executives: Bank involvement is critical to stablecoin development DeThings, May 16, according to CoinDesk, Jose Fernandez da Ponte, head of PayPal's digital currency business, said at the Consensus 2025 conference that bank participation is essential for stablecoin development. He pointed out that the role of banks in infrastructure such as custody and fiat currency access will help stablecoins break through the crypto-native user circle. The CEO of MoneyGram also emphasized that the U.S. stablecoin legislation is key to driving market trust and adoption. The discussion comes at a critical stage in U.S. stablecoin legislation, which, if passed, would allow banks to enter the space. At the meeting, the two executives also discussed the application scenarios of stablecoins in emerging markets and future market consolidation trends. Since the launch of the PYUSD stablecoin in 2023, PayPal has continued to promote compliance.

29K

The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.