The general director of the Vaneck investment company Jan Van ECK said that the Ethereum will become a winner among blockchains, as banks are preparing to process payments in stabelcoins, most of which are based on Ethereum.

Van ECK believes that soon banks and other financial institutions will have to switch to blockchain for processing transactions with stablecoins. After President Donald Trump signed the Genius Law on the regulation of the turnover and release of stablecoins, many companies began to introduce them into their commercial processes, the businessman said. Banks will have to adapt, otherwise they will fail, the founder of Vaneck believes.

“I call the air token Wall Street. This means that every bank and financial company must find ways to attract stablecoins. The companies will have to study the blockchain technology in order to start using stablecoins in the next 12 months. This will take some time, but not a single financial company will want to refuse customers in the reception of stablecoins tied to the dollar. If I want to send stabilcoins to the bank, he must agree, or I will find another institution that will do this, ”Van ECK said.

A dominant blockchain can become an etherium or a network created according to a similar methodology – each financial institution will need a reliable blockchain for processing transactions with stable digital coins, the businessman said.

According to May
report Fireblocks platforms, 90% of large companies study the possibility of using stablecoins. The total supply of stablecoins has already exceeded $ 280 billion.

Earlier, Vaneck launched a salary exchange fund (ETF) attached to the price of the air – in July last year, the US Securities and Exchange Commission (SEC) approved the launch of this investment solution. Now the fund management has assets worth more than $ 284 million.

The comments of Van Ekka were sounded shortly after the broadcast took a new historical maximum of $ 4956. Recently, Van ECK called Bitcoin the main competitor of gold.