银行需要成为加密货币的一部分才能使Stablecoins成功

“这听起来可能违反直觉，但是您确实希望在这个空间中的银行”

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将需要成为Crypto的一部分，使Stablecoins取得成功，这是Paypal（PYPL）数字货币高级副总裁Jose Fernandez da Ponte的信息，在多伦多共识的小组讨论中。

"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."

费尔南德斯·达·庞特（Fernandez da Ponte）说：“这听起来可能是违反直觉的，但是您确实希望在这个领域的银行在这个领域中。”他补充说，他们的基础设施（从监护权到提供菲亚特导轨）将是必不可少的。 “您希望这种连通性和结构能起作用。”

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.

他的言论是为了使美国数字资产的监管清晰度努力，立法者更加接近通过Stablecoin立法，这可以重新定义市场并允许银行进入该空间。

"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."

“这将是一个很大的解锁，” Moneygram（MGI）董事长兼首席执行官Anthony Soohoo说。 “总是犹豫：我可以相信这一点吗？[Stablecoin立法]将回答很多问题。”

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.

两位高管都表示，他们希望一波新发行人一旦制定了，随后是合并时期。费尔南德斯·达·庞特（Fernandez da Ponte）说：“这不会是300个稳定的稳定者，这不会只是两个。”

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是领先的Stablecoins，占2300亿美元资产类别的近90％。贝宝（Paypal）的Pyusd于2023年推出，落后于9亿美元的供应。

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."

费尔南德斯·达·庞特（Fernandez da Ponte）成为成功的主要指标。 “我们看一下速度，主动钱包，交易数量……这就是动力使用的方法。”

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.

在通货膨胀率高和易波动货币的国家中，消费者正在寻求美元支持的稳定币，作为价值和跨境支付工具的存储。 Soohoo说，在200多个国家 /地区拥有近50万现金访问地点的Moneygram正在帮助促进这些访问权限。

"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说：“我们在物理金融和数字融资之间看到了自己。” “许多地方经济中的许多消费者都希望以美元价值，但仍需要将其作为现金以在不采用数字货币的地方花费。”

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.

同时，发达国家采用Stablecoin的采用速度较慢。但是，根据Fernandez da Ponte的说法，有了明确的法规，Stablecoins可以简化公司财政部业务和跨境支出。

"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."

他说：“我们曾经在周五这次疯狂的匆忙来确保周末之前的钱在正确的地方。” “现在，我们将在十分钟的时间内将钱汇给菲律宾和非洲。”

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.

两位高管都指出，现实世界中的用例（而不是炒作）将确定在未来几年预计的稳定率是否可以达到万亿美元的规模。

"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."

“消费者不在乎稳定的。他们关心解决问题。”费尔南德斯·达·庞特（Fernandez da Ponte）说。 “我们进入了十年的旅程五年，法规将定义下半场。”