Jan van Eck: “Ethereum is the Wall Street token”
Jan van Eck, CEO of VanEck, stated that banks must adopt blockchain technology within the next 12 months to facilitate stablecoin transfers, or risk falling behind. According to him, Ethereum or technologies derived from its architecture will play a central role in this transition.
“Ethereum is the Wall Street token,” van Eck emphasized, noting that financial institutions and companies are expected to build applications on blockchain infrastructures compatible with Ethereum.
His remarks come shortly after the U.S. Congress passed, and President Donald Trump signed into law, the Genius Act – the first federal legislation focused exclusively on payment stablecoins. The law establishes a regulatory framework for the issuance and use of stablecoins in the American market.
Meanwhile, global stablecoin supply has surpassed $280 billion, according to market data. This growth highlights the increasing importance of stablecoins in the crypto ecosystem and adds pressure on traditional banks to integrate blockchain solutions into their payment systems.
