Latest news with #JoseFernandezdaPonte
CNBC
14-05-2025
- Business
- CNBC
PayPal crypto chief discusses adoption of its native stablecoin
Jose Fernandez da Ponte, SVP and general manager of blockchain, crypto and digital assets at PayPal, joins CNBC Cryoto World's MacKenzie Sigalos at Consensus 2025 to discuss adoption of its stablecoin, PYUSD, and regulatory hurdles ahead of the crypto industry.
CNBC
14-05-2025
- Business
- CNBC
Crypto and stock trading app eToro shares soar in Nasdaq debut: CNBC Crypto World
On today's episode of CNBC Crypto World, shares of eToro soared in the crypto and stock trading platform's Nasdaq debut. Plus, Johann Kerbrat, the general manager of Robinhood Crypto, discusses the company's new deal with a Canadian crypto firm from Consensus 2025. And, Jose Fernandez da Ponte, general manager of the blockchain, crypto and digital currencies team at PayPal, discusses the company's stablecoin PYUSD.
Yahoo
25-04-2025
- Business
- Yahoo
How PayPal Plans to Bring 400M Users to Crypto
Jose Fernandez da Ponte, Senior Vice President of Blockchain at PayPal, joins CoinDesk to discuss the payment giant's new reward program with PYUSD. Plus, how they plan to expand the stablecoin business and bring more than 400 million customers to the crypto space. Jose Fernandez da Ponte will be joining CoinDesk at Consensus 2025 in Toronto from May 14-16. Get your tickets here: This content should not be construed or relied upon as investment advice. It is for entertainment and general information purposes. Sign in to access your portfolio
The Star
24-04-2025
- Business
- The Star
Coinbase waives fees on PayPal's stablecoin in crypto payments push
FILE PHOTO: Smartphone with displayed Coinbase logo and representation of cryptocurrencies are placed on a keyboard in this illustration taken, June 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo (Reuters) -Coinbase, the largest publicly traded cryptocurrency exchange, is waiving fees on transactions connected to PayPal's stablecoin and allowing its users to redeem the token directly for U.S. dollars, a major milestone for PayPal as the company doubles down on crypto payments. The move is part of a joint effort by Coinbase and PayPal to increase the adoption of PayPal's stablecoin, called PYUSD, which it launched in 2023. PayPal says the integration with Coinbase will allow merchants on its network to settle directly in PYUSD instead of traditional financial rails. Stablecoins, a type of cryptocurrency designed to maintain a constant value, usually a 1:1 dollar peg, are commonly used by crypto traders to move funds between tokens. Their use has grown rapidly in recent years, and proponents like PayPal say that they could be used to send payments instantly. "This combination of being able to connect the consumer bases of PayPal and Coinbase, bringing our merchants to the table, bringing [Coinbase's] institutional access to the table -- we think that it creates a really, really powerful combination," said Jose Fernandez da Ponte, PayPal's senior vice president of blockchain, crypto and digital currencies. The two companies also plan on partnering for future efforts to increase the adoption of stablecoins for payments and explore use cases for PYUSD on decentralized finance platforms, which allow users to transact directly on a blockchain network without intermediaries. "This is a partnership that is all about advancing the future of global payments, taking stable coins mainstream, pushing forward this technology," said Lauren Abendschein, global head of institutional sales at Coinbase. Coinbase has previously only offered the same zero-fee treatment for Circle's stablecoin, USDC, the number two stablecoin in terms of market capitalization. "Definitely there will be cases for payments where people will make a choice between PYUSD and USDC, and we want to make sure that we establish PYUSD as the best stablecoin for payments," said Fernandez da Ponte. Circle has also doubled down on the use of its stablecoin for payments. On Monday, the company announced the launch of its Circle Payments network designed for cross-border payment and real-time settlement of its stablecoins between financial institutions. Stablecoins have a market capitalization of more than $238 billion, according to crypto data provider CoinGecko. PayPal's stablecoin has a market cap of only about $872 million, but it could stand to gain greater market share through its integration with Coinbase. The partnership between the two companies is happening as the U.S. Congress appears likely to pass a bill creating stablecoin rules for the first time. The House of Representatives and the Senate have both advanced bills to create a regulatory regime for stablecoins, and the White House said it wants to see a final bill passed by August. President Donald Trump has sought to broadly overhaul U.S. cryptocurrency policies after courting cash from the industry during his presidential campaign. In office, he has appointed crypto-friendly leaders to agencies like the Securities and Exchange Commission and signed an executive order last month to create a strategic cryptocurrency reserve. In addition, Trump Media & Technology Group, which is majority-owned by the president, on Tuesday said it had reached a binding agreement to roll out an array of retail investment products, including crypto, in its latest bid to diversify into financial services. (Reporting by Hannah Lang in New York; Editing by Leslie Adler)
Zawya
24-04-2025
- Business
- Zawya
Coinbase waives fees on PayPal's stablecoin in crypto payments push
Coinbase, the largest publicly traded cryptocurrency exchange, is waiving fees on transactions connected to PayPal's stablecoin and allowing its users to redeem the token directly for U.S. dollars, a major milestone for PayPal as the company doubles down on crypto payments. The move is part of a joint effort by Coinbase and PayPal to increase the adoption of PayPal's stablecoin, called PYUSD, which it launched in 2023. PayPal says the integration with Coinbase will allow merchants on its network to settle directly in PYUSD instead of traditional financial rails. Stablecoins, a type of cryptocurrency designed to maintain a constant value, usually a 1:1 dollar peg, are commonly used by crypto traders to move funds between tokens. Their use has grown rapidly in recent years, and proponents like PayPal say that they could be used to send payments instantly. "This combination of being able to connect the consumer bases of PayPal and Coinbase, bringing our merchants to the table, bringing [Coinbase's] institutional access to the table -- we think that it creates a really, really powerful combination," said Jose Fernandez da Ponte, PayPal's senior vice president of blockchain, crypto and digital currencies. The two companies also plan on partnering for future efforts to increase the adoption of stablecoins for payments and explore use cases for PYUSD on decentralized finance platforms, which allow users to transact directly on a blockchain network without intermediaries. "This is a partnership that is all about advancing the future of global payments, taking stable coins mainstream, pushing forward this technology," said Lauren Abendschein, global head of institutional sales at Coinbase. Coinbase has previously only offered the same zero-fee treatment for Circle's stablecoin, USDC, the number two stablecoin in terms of market capitalization. "Definitely there will be cases for payments where people will make a choice between PYUSD and USDC, and we want to make sure that we establish PYUSD as the best stablecoin for payments," said Fernandez da Ponte. Circle has also doubled down on the use of its stablecoin for payments. On Monday, the company announced the launch of its Circle Payments network designed for cross-border payment and real-time settlement of its stablecoins between financial institutions. Stablecoins have a market capitalization of more than $238 billion, according to crypto data provider CoinGecko. PayPal's stablecoin has a market cap of only about $872 million, but it could stand to gain greater market share through its integration with Coinbase. The partnership between the two companies is happening as the U.S. Congress appears likely to pass a bill creating stablecoin rules for the first time. The House of Representatives and the Senate have both advanced bills to create a regulatory regime for stablecoins, and the White House said it wants to see a final bill passed by August. President Donald Trump has sought to broadly overhaul U.S. cryptocurrency policies after courting cash from the industry during his presidential campaign. In office, he has appointed crypto-friendly leaders to agencies like the Securities and Exchange Commission and signed an executive order last month to create a strategic cryptocurrency reserve. In addition, Trump Media & Technology Group, which is majority-owned by the president, on Tuesday said it had reached a binding agreement to roll out an array of retail investment products, including crypto, in its latest bid to diversify into financial services. (Reporting by Hannah Lang in New York; Editing by Leslie Adler)
