VanEck CEO: Ethereum will become the "Wall Street Token", leading the stablecoin banking revolution

Jan van Eck, CEO of the globally renowned investment management company VanEck, recently stated that as the wave of stablecoin adoption accelerates within banks and Financial Institutions, Ethereum (ETH) will become the core technology of this transformation and may even become the true "Wall Street Token." He predicts that within the next 12 months, banks must adapt to the demand for stablecoin transfers, or they will face the risk of being eliminated from the market.

Ethereum: The Underlying Layer for Stablecoin Transfers

Van Eck noted in an interview with Fox Business that banks and financial services dealing with stablecoin transactions must rely on blockchain infrastructure, and Ethereum or other public chains that adopt the EVM (Ethereum Virtual Machine) architecture are likely to be the most viable options.

Jan van Eck said: "It will be Ethereum, or something else that uses the Ethereum methodology."

Currently, the total supply of stablecoins has reached $283 billion (CoinGecko data), and as more companies incorporate stablecoins into their payment and settlement processes, banks that do not follow suit will fall behind in the new round of financial infrastructure competition.

Policy Boost: The First Federal Stablecoin Bill in the United States is Implemented

In July of this year, the "GENIUS Act" (Genius Act), passed by the U.S. House of Representatives and signed by President Trump, officially took effect. This is the first federal law in the United States specifically targeting stablecoins, clearly defining stablecoins as payment instruments.

The implementation of this bill provides legal protection for the large-scale adoption of stablecoins by banks, payment companies, and financial technology platforms, and creates a vast growth space for underlying public chains such as Ethereum.

Timeline for Bank Adoption: Results in 12 Months

Van Eck predicts that the next year will be a critical period for banks to adopt stablecoins:

Short-term challenge: Traditional banking systems need to upgrade to support digital dollar and stablecoin transfers.

Market pressure: The demand from businesses and consumers for low-cost, instant settlement will force banks to accelerate deployment.

Substitution risk: If banks refuse to provide stablecoin services, users will turn to other institutions or fintech platforms.

He candidly stated, "No financial services company would say, 'No, don't send me digital dollars.'"

Financial Technology and Payment Giants Have Taken the Lead in Layout

From Stripe to Shopify, and to multiple credit card networks and payment companies, the fintech sector has been at the forefront of adopting stablecoin technology, supporting low-cost, real-time cross-border transactions globally.

Eric Trump, son of President Trump, warned back in April that if banks refuse to embrace cryptocurrencies and stablecoins, they may face extinction within a decade. He criticized the traditional cross-border payment system SWIFT for its high costs and slow speeds, which cannot meet the demands of modern business.

2025 Outlook: Acceleration of Banking Cryptoization Process

Against the backdrop of the United States implementing more friendly cryptocurrency regulatory policies, the industry is generally optimistic about the broader adoption of cryptocurrencies and stablecoins by banks in 2025.

Ethereum, as the most mature smart contract platform currently, combined with the compatibility of the EVM ecosystem and a large developer community, is highly likely to become the preferred base layer for stablecoin transfers among global Financial Institutions, truly becoming the "Wall Street Token."

Conclusion

The perspective of the CEO of VanEck reveals an emerging trend: stablecoins are no longer just payment tools in the crypto market, but are about to become core components of global banking and financial infrastructure. With its technological maturity and ecological advantages, Ethereum is expected to take a leading position in this wave of financial digitization. For more real-time quotes and in-depth analysis, please follow the official Gate platform.