In accordance with Benzinga, stablecoins are emerging as a pivotal element in transforming global payments, as discussed at the Benzinga Future of Digital Assets conference. Jan van Eck, CEO of VanEck, highlighted their role in creating a new financial system, especially in regions with inefficient traditional banking. He noted that stablecoins are increasingly used for cross-border transactions and financial inclusion, with transaction volumes nearing double that of Visa. Despite their growing global adoption, stablecoins remain underappreciated in the U.S. due to dominant traditional banking systems. Van Eck expressed concerns over potential restrictive legislation influenced by banking lobbyists, which could hinder stablecoin adoption. He criticized the SEC's handling of digital assets, suggesting that commodity regulators have taken the lead. Van Eck also addressed the need for financial institutions to integrate stablecoins, predicting that third-party platforms will facilitate this transition.
Stablecoins Drive Global Payment Transformation, Says VanEck CEO
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