VanEck CEO Jan van Eck stated that banks must adopt blockchain technology to handle stablecoin transactions or risk falling behind. He believes Ethereum will emerge as the leading platform for stablecoin transfers as banks prepare for a wave of stablecoin adoption. Van Eck emphasized that financial institutions will need to develop methods to accept stablecoins within the next year to stay competitive. He pointed out that legislation focusing on stablecoins has been introduced, and the total stablecoin supply currently stands at $280 billion. Additionally, he noted that other companies are transitioning to using stablecoins, making it imperative for banks to adapt. VanEck recently launched an Ether ETF after it was approved by the SEC, reflecting growing institutional interest in Ethereum, which recently reached a new all-time high, suggesting increasing confidence in the platform.

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