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PayPal Crypto Head Advocates for Bank Involvement to Scale Stablecoins
PayPal Crypto Head Advocates for Bank Involvement to Scale Stablecoins
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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 solutions and fiat infrastructure for stablecoin adoption beyond crypto-native users.
Regulatory progress in the U.S. could soon enable this vision, with stablecoin legislation nearing approval. Such measures WOULD allow banks to participate directly in the digital asset market—a development Anthony Soohoo, chairman and CEO of an undisclosed firm, called "a big unlock" for the industry.
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