The CEO of asset manager Vaneck thinks that banks should adjust their systems within a year to make transactions with Stablecoins possible. If they don’t do that, they risk losing the connection. But is Ethereum (ETH) indeed the blockchain that will soon be running international financial traffic?
Ethereum is mentioned as a promising player
Jan van Eck, CEO of Vaneck, spoke yesterday with the American channel Fox Business. In it he said that banks and financial service providers cannot ignore blockchain technology. “It is very simple. Due to Stablecoins, every bank will soon need a way to accept those digital dollars,” says Van Eck.
According to him, Ethereum is the most logical candidate. “I call it the Wall Street token.” The winner will be the blockchain on which companies want to build. And that is Ethereum or a variant that follows the same methodology. “
The rise of Stablecoins also receives support from politics. Last month, President Donald Trump signed the so -called Genius Act, the first federal law that focuses exclusively on payment stablecoins. In the meantime, the total stock of Stablecoins rose above 280 billion dollars worldwide.
Research by the Fireblocks platform also shows that 90 percent of the major financial institutions investigate the use of Stablecoins. “No bank wants to say: don’t send me that digital dollar,” warned Van Eck.
Eric Trump: Banks disappear without crypto
The Vaneck CEO sees a clear deadline: “Companies must use technology to make stablecoin transactions possible. If you don’t do that, then customers will automatically find another party that can do it.”
Previously Eric Trump, son of the US president and vice-president of the Trump Organization, said that banks will even disappear completely if they do not embrace crypto.
The Ether race reached a record of $ 4946 last Sunday. In the meantime, the currency has dropped slightly and at the time of writing is notified $ 4582, an increase of 1.6 percent in the last 24 hours.
More and more companies are adding Ether to their treasury. In the past month alone, companies bought more than 6 billion dollars in ETH. Bitmine Immersion Technologies, for example, recently expanded its position by 1.7 billion dollars, which means that the total amounts to almost $ 7 billion. In this way, Ethereum strengthens its role as preferred blockchain within the financial sector.
Source: https://newsbit.nl/vaneck-ceo-ethereum-is-de-wall-street-token/
