Banks must be part of Crypto for StableCeCoins to succeed – that was the message from Jose Fernandez da Ponte, Paypal’s senior vice president of digital currencies, during a panel discussion in Consensus 2025 in Toronto.

“It may sound contradictory, but you want the banks in this room,” Fernandez Da Ponte said, adding that their infrastructure-from custody to deliver Fiat rails-will be important if stableecoins are to scale beyond crypto-native circles. “You want the connection and that substance to work.”

His remarks came in the midst of the effort to bring legislative clarity for digital assets in the United States, where legislators came closer to adopting stableecoin legislation that could redefine the market and allow banks to enter the square.

Read more: The US Senates StableCOin -push still alive as Bill can return to the floor: Sources

“This will be a big unlock,” said Anthony Soohoo, chairman and CEO of Moneygram, a cross -border money transfer service. “There is always hesitating: Can I trust this? [The stablecoin legislation] will answer many of these questions. “

Both leaders said they expect a wave of new issuers to enter the market when the regulation is in place, followed by a period of consolidation. “It won’t be 300 stableecoins, and it won’t be only two,” Fernandez said da Ponte.

At the moment tether’s USDT Usdt$1.00 and Circle’s USDC USDC$0.99988 Domin the market and represents almost 90% of the $ 230 billion asset class. Paypal’s Pyusd Pyusd$0.99953Launched in 2023, hanging far behind with $ 900 million delivery. Fernandez Da Ponte pushed back on market capital as the primary metric for success. “We look at speed, active wallets, number of transactions,” he said. “That’s what drives real use.”

In countries with high inflation and fleeting currencies, consumers seek dollar -supported stablecoins such as stores with value and tools for cross -border payments. Soohoo said that Moneygram, operating in over 200 countries with almost half a million cash access sites, helps ease this access.

“We see ourselves between physical financing and digital financing,” Soohoo said. “Many consumers in local economies want to have value in dollars, but still need to access it as a cash to use in places that do not take digital currency.”

StableCOin -admission in developed countries has meanwhile been slower. With a clear regulation in place, stableecoin’s streamline corporate tax results and cross -border payout, Fernandez noted da Ponte.

“We used to have this crazy rush on Friday to make sure money was in the right places before the weekend,” he said. “Now we send money to the Philippines and Africa in ten minutes with stableecoins.”

Both leaders noticed that cases in the real world, not hype, will determine if stablecoins could reach the trillion dollar scale in the next few years projected.

“Consumers don’t care about stableecoins. They are interested in solving problems.” Fernandez da Ponte said. “We are five years on a ten-year journey, and regulation defines the next half.”