tl;dr
The CEO of VanEck predicts that "super apps" using stablecoins will disrupt traditional payment systems by bypassing intermediaries like Visa and Mastercard, reducing fees and increasing competition. This shift is expected to bring new competitors such as Kraken and Robinhood into the market. The re...
The CEO of VanEck, an exchange-traded fund provider, forecasts that "super apps" will disrupt traditional finance’s payment systems by leveraging stablecoins. In a recent interview, Jan Van Eck highlighted how these apps bypass intermediaries like Visa and Mastercard, which typically charge around 3% fees, making payments cheaper and inviting more competition.
Van Eck emphasized that this cost advantage could usher in a wave of competitors such as Kraken, Robinhood, and others, all striving to capture market share with their super app offerings. This evolving landscape is expected to intensify pressure on conventional payment methods.
Recently, President Trump signed the GENIUS Act into law, introducing strict regulations for firms issuing payment stablecoins, signaling increased oversight in this fast-growing area. Van Eck noted that while Circle, a leading stablecoin issuer, has performed well this year, numerous new entrants are preparing to challenge the status quo.
He further explained that the impact of these developments on company earnings will become clearer over several quarters, although markets have already started reacting. Ethereum and Circle, representing some of the incumbents, have seen strong market performances post-IPO, but many fresh competitors are poised to enter this dynamic and competitive space.