PANews reported on May 16, according to CoinDesk, that Jose Fernandez da Ponte, head of PayPal's digital currency business, stated at the Consensus 2025 conference that bank participation is crucial for the development of stablecoins. He pointed out that banks' roles in infrastructure such as custody and fiat channels will help stablecoins break through the crypto-native user base. The CEO of MoneyGram emphasized that U.S. stablecoin legislation is key to driving market trust and adoption.

This discussion comes as U.S. stablecoin legislation enters a critical stage, and if the bill passes, it will allow banks to enter the field. The two executives also discussed emerging market stablecoin application scenarios and future market integration trends at the conference. Since launching the PYUSD stablecoin in 2023, PayPal has been continuously promoting compliant development.