PayPal and Visa executives discussed the future of stablecoins and regulation at the DC Fintech Week.
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A panel titled "Stablecoins Unleashed: Innovations, Integrations, and Possibilities" will be held at DC Fintech Week on Wednesday morning.
The discussion on the future of cryptocurrency will feature Jose Fernandez da Ponte, CEO of PayPal Digital; Cuy Sheffield, head of crypto at Visa; and Anna Yuan, founder of stablecoin infrastructure provider Perena. Robby Greenfield, CEO and founder of Umoja Labs, will moderate the discussion.
Stablecoins, which are cryptocurrencies that maintain a fixed value peg to another asset, are widely used for trading on centralized and decentralized exchanges and as collateral in decentralized finance. While their primary use is trading, their non-trading applications are gaining popularity. For payments companies, they can eliminate intermediaries and process transactions more transparently, efficiently, and cost-effectively.
Stablecoin market cap has surged to new highs in recent weeks, following a significant decline in 2023. According to Wall Street firm Bernstein, stablecoin issuers now hold the 18th largest amount of U.S. Treasurys.
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