Banks Essential for Stablecoin Success: Industry Leaders

Industry experts underscore the critical role banks play in driving stablecoin adoption and success. During the Consensus 2025 event, Jose Fernandez da Ponte, Senior Vice President for Digital Currencies at PayPal, and Anthony Soohoo, Chairman and CEO of MoneyGram, highlighted this necessity, arguing that integrating into the banking system is crucial for stablecoins to expand beyond the current crypto market and reach a wider audience. They emphasized how banks’ financial infrastructure facilitates stablecoin growth by providing asset storage, transfer services, and bridging the gap in reaching broader audiences.