$AVAX CRYPTO WORLD NEWS 💥💥🤑

PAYPAL AND MONEYGRAM INDICATE THAT BANKS AND REGULATION ARE THE KEYS TO THE GROWTH OF STABLECOINS

We know that banking institutions are not native to cryptocurrencies, but they play a fundamental role for stablecoins, as indicated by the head of digital currencies at PayPal at Consensus 2025. José Fernández da Ponte stated that stablecoins will not scale unless banks focus on the basics: custody, payment infrastructure, and access and exit of fiat currencies.

The debate arose as lawmakers approach the approval of U.S. legislation on stablecoins, which could allow traditional financial institutions to participate with greater freedom in this sector.

For his part, Anthony Soohoo, CEO of MoneyGram, described the pending bill as a "great unlock," asserting that it could boost public trust in stablecoins and open the door to more extensive adoption.

Emerging markets could offer the clearest use cases. In countries with monetary instability such as Venezuela, people use dollar-backed stablecoins to protect their savings and to receive remittances.

MoneyGram, with operations in over 200 countries, is helping to bridge the gap between digital dollars and cash, especially in places where digital payments have yet to take hold.

For businesses, stablecoins are already streamlining cross-border payments. "We used to have a crazy rush on Fridays to ensure the money got to the right places," said Fernandez da Ponte. "Now we send money to the Philippines and Africa in ten minutes with stablecoins".

Executives agreed that regulation, not exaggerated advertising, will drive the next phase of stablecoin development.