Stablecoins, which are cryptocurrencies tied to stable assets, are being increasingly used for trading on centralized and decentralized exchanges, as well as in decentralized finance. Payment companies are particularly interested in their non-trading applications, as they have the potential to streamline transactions by eliminating intermediaries, leading to increased transparency and reduced costs.

Recent data shows that the market capitalization of stablecoins has reached record highs after a significant decline earlier in 2023. According to Wall Street firm Bernstein, stablecoin issuers are considered "systemically important" and are the 18th largest holders of U.S. Treasurys.

PayPal and Visa executives will be participating in a panel discussion at DC Fintech Week. The panel, titled "Stablecoins Unshackled: New Features, Integrations and Frontiers," will include Jose Fernandez da Ponte, CEO of PayPal Digital, Cuy Sheffield, head of crypto at Visa, and Anna Yuan, founder of stablecoin infrastructure provider Perena. The discussion will be moderated by Robby Greenfield, CEO and founder of Umoja Labs.