Ethereum set to power bank stablecoin payments, says VanEck CEO

In a Fox Business interview, Jan van Eck said Ethereum will be the primary network for bank‑to‑bank stablecoin payments. He warned that banks and other financial firms must enable stablecoin rails or risk customers routing payments elsewhere. The VanEck CEO also expects most institutional-grade payment systems to be built on Ethereum or other EVM-compatible networks.

It’s very much what I call the Wall Street token.

Van Eck’s case is pragmatic. Institutions already build on Ethereum and EVM‑compatible systems, and no bank wants to tell clients, “don’t send me that digital dollar.” When stablecoin acceptance is table stakes, CTOs choose the stack with the broadest tooling, liquidity, and developer base – which, in his view, puts ETH/EVM ahead.

The comments follow the recent passage of the GENIUS Act, the first U.S. federal stablecoin law. It sets national standards for 1:1 reserves (cash or short‑term Treasuries), disclosures, and who may issue payment stablecoins. With oversight clearer, banks have fewer reasons to reject digital‑dollar payments – and more pressure to wire up compliant rails.

According to DeFiLlama, stablecoin circulation is currently near $280 billion. On the institutional side, spot Ether ETFs have recently logged stronger net inflows than Bitcoin funds across multiple sessions, and VanEck is among the issuers with a U.S. spot ETH ETF. Retail flows remain heavy on TRON, but Van Eck’s thesis centers on regulated, bank‑grade infrastructure where he expects Ethereum to lead.

The market will be watching how banks and fintechs adapt under the new rules. Key areas of focus include which Ethereum-compatible networks are used, how institutions handle custody, KYC/AML, and disclosures, and whether early pilot programs begin to move real value on-chain. On-chain metrics, fund flows, and stablecoin settlement volumes will show how quickly adoption is growing.