VanEck CEO Jan van Eck shared his views during an interview with Fox Business that Ethereum is best suited to lead the next phase of blockchain adoption in the banking industry.
van Eck explained that financial institutions will need to select a blockchain to facilitate stablecoin transfers. According to him, Ethereum
He referred to Ethereum as “the Wall Street token”, as it fits well with what banks and finance firms might need. As stablecoins gain more use, banks must be ready to accept and send them.
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van Eck noted that Ethereum provides the tools necessary for this shift. He added:
If someone wants to send you stablecoins, your bank has to make it work. Otherwise, that person may just use a different service.
According to van Eck, businesses should begin preparing now. He predicted that the next 12 months would be an important period for financial firms to set up the systems needed to support stablecoin payments.
He also pointed out that development on blockchain platforms will play a big role. Ethereum, or networks that work in a similar way, will be chosen not just for name recognition, but because they already have tools and infrastructure that developers can use.
On August 7, Vitalik Buterin, co-founder of Ethereum, voiced his support for companies that hold Ethereum as part of their corporate treasury strategy. What did he say? Read the full story.
