Banks Dey Use Stablecoins, Ethereum Dem Call ’Wall Street Token’
Jan van Eck, CEO of VanEck, don call Ethereum di “Wall Street token” because financial institutions dey rush build stablecoin rails. E talk say banks and payment firms need blockchain infrastructure—mainly Ethereum or other EVM-compatible networks—to process stablecoins. Di GENIUS Act pass don create federal framework wey require stablecoins make dem transparent, fully backed and safely integrated into U.S. financial system. After dem approve di law, Binance stablecoin reserves jump from $32 billion to $36 billion. Big players dey step up: Stripe now dey support stablecoin payouts for over 100 countries and dey build im own Layer 1 blockchain; Circle dey roll out payment network and proprietary Layer 1 wey USDC na di native asset. Meanwhile, Visa and Mastercard don launch stablecoin settlement APIs and partnerships to enable 24/7 global payments. As stablecoins dey get regulatory clarity and institutional backing, Ethereum role as foundational network fit make adoption increase and price gbam.
Bullish
Dis news dey bullish for Ethereum and di crypto market full ground. Big banks and payment providers wey dem don dey use stablecoins under clear federal law (GENIUS Act) show say blockchain rails really get demand for real world. Ethereum, wey dem dey call “Wall Street token,” go benefit as e EVM ecosystem dey run stablecoin transfers. Like past times wey DeFi rally dey happen—when institutional people interest come join and regulators clear things—wey make ETH price go up—this kind change fit bring more capital and use. Short term, developer work and network fees fit climb as dem dey put stablecoin services for projects. Long term, Ethereum central role for regulated stablecoin setup fit make on-chain volume and protocol staking demand go high, wey go make token value better.