Stablecoins Can Redefine Global Finance, VanEck CEO Says: Are Banks Falling Behind?
As financial systems grapple with inefficiencies, stablecoins emerge as a transformative force in global finance.
During a discussion led by Paul McCaffery at the recent Benzinga Future of Digital Assets conference, panelists explored how these digital currencies reshape payment systems and force institutions to reevaluate their roles.
The Global Payments System Undergoes a Shift
Jan van Eck, CEO of VanEck, highlighted the increasing use of stablecoins in payments and cross-border transactions. “The global payments system is being rewired as we speak,” van Eck said, noting that stablecoin transaction volumes are “approaching twice that of Visa.” This growth, he added, reflects stablecoins’ efficiency and appeal, especially in countries with volatile currencies or limited access to traditional banking services.
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Emerging markets, van Eck explained, are leading the charge in stablecoin adoption, using them as a substitute for unstable national …
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