PayPal Crypto Head Advocates Bank Involvement for Stablecoin Success

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2025-05-15 20:52:02

Jose Fernandez da Ponte, PayPal’s senior vice president of digital currencies, emphasized the necessity of traditional banks in the crypto ecosystem during Consensus 2025 in Toronto. "It might sound counterintuitive, but you do want the banks in this space," he stated, highlighting their critical role in custody and fiat infrastructure for stablecoin scalability.

Regulatory progress in the U.S. could soon enable banks to participate directly in stablecoin markets, with pending legislation poised to reshape the landscape. Anthony Soohoo, chairman and CEO, echoed the sentiment, calling this development "a big unlock" for institutional adoption.

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