Ethereum is very much ‘the Wall Street token,’ VanEck CEO says

VanEck CEO Jan van Eck said banks must adopt the blockchain to facilitate stablecoin transfers within 12 months or risk falling behind.

Jan van Eck, the CEO of investment management firm VanEck, speculated that Ethereum will be the clear “winner” among blockchains as banks prepare for a flood of stablecoins. 

During an interview with Fox News Business on Wednesday, van Eck said banks and financial services will have to adopt a blockchain to handle stablecoin transactions, and he thinks Ethereum should be the one.

“It’s very much what I call the Wall Street token. And what I mean by that is, if you think that because of stablecoins, now every bank and every financial services company has to have a way of taking in stablecoins,” he said.

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