銀行需要成為加密貨幣的一部分才能使Stablecoins成功

“這聽起來可能違反直覺，但是您確實希望在這個空間中的銀行”

Banks will need to be part of crypto for stablecoins to succeed—that was the message from Jose Fernandez da Ponte, PayPal's (PYPL) senior vice president of digital currencies, during a panel discussion at Consensus 2025 in Toronto.

Banks將需要成為Crypto的一部分，使Stablecoins取得成功，這是Paypal（PYPL）數字貨幣高級副總裁Jose Fernandez da Ponte的信息，在多倫多共識的小組討論中。

"It might sound counterintuitive, but you do want the banks in this space," Fernandez da Ponte said, adding that their infrastructure—from custody to providing fiat rails—will be essential if stablecoins are to scale beyond crypto-native circles. "You want that connectivity and that fabric to work."

費爾南德斯·達·龐特（Fernandez da Ponte）說：“這聽起來可能是違反直覺的，但是您確實希望在這個領域的銀行在這個領域中。”他補充說，他們的基礎設施（從監護權到提供菲亞特導軌）將是必不可少的。 “您希望這種連通性和結構能起作用。”

His remarks came amid efforts to bring regulatory clarity for digital assets in the U.S., with lawmakers inching closer to pass stablecoin legislation that could redefine the market and allow banks to enter the space.

他的言論是為了使美國數字資產的監管清晰度努力，立法者更加接近通過Stablecoin立法，這可以重新定義市場並允許銀行進入該空間。

"This is going to be a big unlock," said Anthony Soohoo, chairman and CEO of MoneyGram (MGI) a cross-border money transfer service. "There’s always hesitation: Can I trust this? [The stablecoin legislation] is going to answer a lot of those questions."

“這將是一個很大的解鎖，” Moneygram（MGI）董事長兼首席執行官Anthony Soohoo說。 “總是猶豫：我可以相信這一點嗎？[Stablecoin立法]將回答很多問題。”

Both executives said they expect a wave of new issuers to enter the market once regulation is in place, followed by a period of consolidation. “It’s not going to be 300 stablecoins, and it’s not going to be just two,” Fernandez da Ponte said.

兩位高管都表示，他們希望一波新發行人一旦制定了，隨後是合併時期。費爾南德斯·達·龐特（Fernandez da Ponte）說：“這不會是300個穩定的穩定者，這不會只是兩個。”

Currently, Tether's USDT and Circle's USDC are the leading stablecoins, together accounting for nearly 90% of the $230 billion asset class. PayPal’s PYUSD, launched in 2023, lags far behind with $900 million supply.

目前，Tether的USDT和Circle的USDC是領先的Stablecoins，佔2300億美元資產類別的近90％。貝寶（Paypal）的Pyusd於2023年推出，落後於9億美元的供應。

Fernandez da Ponte pushed back on market cap as the primary metric for success. "We look at velocity, active wallets, number of transactions … those are what drive real usage."

費爾南德斯·達·龐特（Fernandez da Ponte）成為成功的主要指標。 “我們看一下速度，主動錢包，交易數量……這就是動力使用的方法。”

In countries with high inflation and volatile currencies, consumers are seeking out dollar-backed stablecoins as stores of value and tools for cross-border payments. Soohoo said MoneyGram, which operates in over 200 countries with nearly half a million cash-access locations, is helping facilitate that access.

在通貨膨脹率高和易波動貨幣的國家中，消費者正在尋求美元支持的穩定幣，作為價值和跨境支付工具的存儲。 Soohoo說，在200多個國家 /地區擁有近50萬現金訪問地點的Moneygram正在幫助促進這些訪問權限。

"We see ourselves between physical finance and digital finance," Soohoo said. "A lot of consumers in local economies want to hold value in dollars but still need to access it as cash to spend in places that don’t take digital currency."

Soohoo說：“我們在物理金融和數字融資之間看到了自己。” “許多地方經濟中的許多消費者都希望以美元價值，但仍需要將其作為現金以在不採用數字貨幣的地方花費。”

Stablecoin adoption in developed countries, meanwhile, has been slower. But with clear regulation in place, stablecoins can streamline corporate treasury operations and cross-border disbursement, according to Fernandez da Ponte.

同時，發達國家採用Stablecoin的採用速度較慢。但是，根據Fernandez da Ponte的說法，有了明確的法規，Stablecoins可以簡化公司財政部業務和跨境支出。

"We used to have this mad rush on Friday to make sure money was in the right places before the weekend," he said. "Now we’re sending money to the Philippines and Africa in ten minutes with stablecoins."

他說：“我們曾經在周五這次瘋狂的匆忙來確保週末之前的錢在正確的地方。” “現在，我們將在十分鐘的時間內將錢匯給菲律賓和非洲。”

Both executives noted that real-world use cases, not hype, will determine if stablecoins could reach the trillion-dollar scale in the next years that's been projected.

兩位高管都指出，現實世界中的用例（而不是炒作）將確定在未來幾年預計的穩定率是否可以達到萬億美元的規模。

"Consumers don’t care about stablecoins. They care about solving problems." Fernandez da Ponte said. "We’re five years into a ten-year journey, and regulation will define the next half."

“消費者不在乎穩定的。他們關心解決問題。”費爾南德斯·達·龐特（Fernandez da Ponte）說。 “我們進入了十年的旅程五年，法規將定義下半場。”