Speaking at the Consensus 2025 conference in Toronto, Jose Fernandez da Ponte admitted that the stabilcoins tied to fiat currencies have become a new way to move assets between the volatile space of cryptocurrencies and a more predictable traditional financial system that is controlled by the state. However, the full -scale use of stablecoins is hindered by regulatory “gray zones” and the fears of governments about the financial stability of tokens.
Yes, Ponte noted that now the American authorities are already close to the adoption of legislation on stablecoins. According to the PayPal top manager, the laws regulating the use of stablecoins could convert the cryptocurrency markets and open it for banks. The United States also seek to introduce rules regarding digital assets as a whole, and Ponte emphasized.
He suggested that as soon as clear rules for stablecoins appear, a new wave of tokens emitted to the market will come to the market, and in the future not two stable cryptocurrencies will dominate the market, but more than three hundred. Now the main stabilcoins are considered to be USDT from Tether and USDC from Circle. Their market capitalization is $ 151 billion and $ 60.5 billion, respectively.
Stablecoin Pyusd, launched by PayPal in August 2023 in partnership with the Paxos Trust Company, this indicator has $ 911.4 million. However, and Ponte believes that market capitalization should not be the main indicator of the success of Stablecoin. He believes that if the developers focus on increasing the speed of transactions and user activity, this will accelerate the spread of stablecoins.
Recently, the US Securities and Exchange Commission (SEC) has stopped investigation against Steabelcoin PyUSD without forced actions against PayPal. Earlier, the regulator demanded that the company provide documents related to PyUSD.
Source: Bits
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