'The Global Payments System Is Being Rewired' — What's Next For Stablecoins?

Benzinga12-20 21:43

The role of stablecoins in transforming global payments emerged as a central theme during a panel discussion at the Benzinga Future of Digital Assets conference. Panelist Jan van Eck, CEO of VanEck, ...

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Panelist Jan van Eck, CEO of VanEck, ...</p>\n\n<a href=\"https://www.benzinga.com/24/12/42615873/the-global-payments-system-is-being-rewired-whats-next-for-stablecoins\">Source Link</a>\n\n</div>\n","source":"Benzinga","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>'The Global Payments System Is Being Rewired' — What's Next For Stablecoins?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n'The Global Payments System Is Being Rewired' — What's Next For Stablecoins?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-20 21:43 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/24/12/42615873/the-global-payments-system-is-being-rewired-whats-next-for-stablecoins><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The role of stablecoins in transforming global payments emerged as a central theme during a panel discussion at the Benzinga Future of Digital Assets conference. Panelist Jan van Eck, CEO of VanEck, ...</p>\n\n<a href=\"https://www.benzinga.com/24/12/42615873/the-global-payments-system-is-being-rewired-whats-next-for-stablecoins\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0957808578.USD","symbol_name":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"ZU\" (USD) ACC","start_time":0,"source_url":"https://www.benzinga.com/24/12/42615873/the-global-payments-system-is-being-rewired-whats-next-for-stablecoins","article_id":"2492144715","we_media_id":null,"thumbnails":["https://www.benzinga.com/files/images/story/2024/12/20/Panico-nel-mercato-crypto-Bitcoin-scende.jpeg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2492144715","pubTimestamp":1734702215,"columns":[],"sourceInfo":{"source_id":"Benzinga","name":"Benzinga Cypto"},"weMediaInfo":null,"summary":"Stablecoins play a crucial role in transforming global payments and financial systems, with rapid adoption in emerging markets. Regulatory hurdles must be overcome for full potential.","collect":0,"end_time":0,"defaultTopTitle":"benzinga.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0957808578.USD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"ZU\" (USD) ACC","LU1668664300.SGD":"Blackrock World Financials A2 SGD-H","LU1791807156.HKD":"BGF WORLD FINANCIALS \"A2\" (HKDHDG) ACC","LU0444973449.USD":"CT (LUX) I GLOBAL TECHNOLOGY \"DU\" (USD) ACC","BK4106":"数据处理与外包服务","LU0208291251.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) INC","BK4585":"ETF&股票定投概念","BK4227":"交易和支付处理服务","LU1861220207.SGD":"Blackrock FinTech A2 SGD-H","LU1861217088.USD":"贝莱德金融科技A2","LU0320765489.SGD":"FTIF - Franklin Mutual US Value A Acc SGD","LU0106831901.USD":"贝莱德世界金融基金A2","BK4535":"淡马锡持仓","LU0070302665.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) ACC","BK4588":"碎股","GPN":"环汇有限公司","LU1059921491.USD":"NORDEA 1 GLOBAL STABLE EQUITY \"HB\" (USDHDG) ACC","LU0444971666.USD":"天利全球科技基金","LU1923622291.USD":"Natixis Thematics Safety R/A USD","BK4551":"寇图资本持仓","LU2125909916.SGD":"Natixis Thematics Safety R/A SGD","LU2125909759.SGD":"Natixis Thematics Safety H-R/A SGD","LU2360107671.USD":"BGF FINTECH \"A4\" (USD) INC","LU1642822529.SGD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"A\" (SGD) ACC","LU0211331839.USD":"FRANKLIN MUTUAL GLB DISCOVERY \"A\" (USD) ACC","LU0476273544.USD":"CT (LUX) I GLOBAL TECHNOLOGY \"BU\" (USD) ACC","LU1815336760.USD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"AUP\" (USD) INC"},"translate_title":"“全球支付系统正在重新连接”——稳定币的下一步是什么？","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GPN":1},"content_text":"The role of stablecoins in transforming global payments emerged as a central theme during a panel discussion at the Benzinga Future of Digital Assets conference. Panelist Jan van Eck, CEO of VanEck, described stablecoins as a driving force behind a new financial system, particularly in regions where traditional banking systems are less efficient.\n\"The global payments system is being rewired as we speak, and people are using stablecoins as the backbone,\" van Eck said, highlighting their impact on cross-border transactions and financial inclusion.\nStablecoins And Global Adoption\nVan Eck emphasized the rapid adoption of stablecoins in emerging markets, which are increasingly used for foreign exchange and remittances. He pointed out that their transaction volume is now approaching double that of Visa, signaling their importance in global commerce. Despite this growing adoption, van Eck noted that stablecoin usage remains underappreciated in the United States, where traditional banking systems dominate.\nOne example he mentioned was the inefficiency of U.S. banking operations during national holidays. \"Imagine a day like Veterans Day when no money can move between institutions in the United States. That world will be gone in three to five years.\"\nThe Role Of Regulation\nWhile stablecoins present clear benefits, regulatory clarity remains a challenge. Van Eck expressed concerns over the potential for restrictive legislation, particularly if influenced by banking lobbyists. \"I prefer them [legislators] to be completely passive,\" he said, emphasizing his concern that new laws could create unnecessary barriers to adoption. \"The banking regulators love control. Jamie Dimon loves control.\"\nThe fight over crypto regulation in the U.S. continues to be contested among banking, securities and commodity regulators. Van Eck argued that the Securities and Exchange Commission has mishandled the digital asset space, allowing commodity regulators to take a leading role. Despite these challenges, he sees stablecoins as a critical tool for global financial systems.\nImplications For Financial Advisors\nVan Eck also addressed questions from financial advisors about integrating stablecoins into client accounts, noting that existing infrastructure like Charles Schwab may not be equipped to handle these assets directly. However, he anticipates that third-party platforms will fill the gap, enabling wider adoption within the traditional financial ecosystem.\nHe highlighted the importance of developing software solutions to streamline the integration of stablecoins into existing systems. \"Clients are going to want it,\" van Eck said, predicting that financial institutions will need to adapt quickly to meet this demand.\nA Future Built On Stablecoins\nStablecoins’ potential extends beyond individual transactions. Van Eck described them as a foundation for broader financial infrastructure, particularly in markets where traditional banking systems are failing. By enabling faster, cheaper and more efficient transfers, stablecoins could become essential to the global economy.\n\"Stablecoin usage is exploding,\" Van Eck concluded, emphasizing its potential to reshape how value is transferred worldwide. As adoption increases, the industry must overcome regulatory hurdles to unlock the full benefits of this transformative technology.\nImage: ShutterstockMarket News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2492144715"}