VanEck CEO Predicts Rise of ‘Super Apps’ Like Robinhood, Kraken and X Will Put Pressure on TradFi’s Payments System

The Rise of “Super Apps” in Finance: A Challenge to Traditional Payment Systems

The CEO of VanEck, a leading exchange-traded fund (ETF) provider, is making bold predictions about the future of payments in the financial industry. In a recent interview with CNBC Television, Jan Van Eck highlighted the emergence of “super apps” that support stablecoins as potential disruptors to traditional payment methods.

Van Eck believes that these super apps, by leveraging stablecoins that eliminate the need for intermediaries like Visa and Mastercard with their high fees, could revolutionize the payments landscape. He stated, “I definitely think that this will put cost pressure on the payments system because it is cheaper and allows all these competitors to come into the market.”

President Trump recently signed into law the GENIUS Act, which sets forth strict regulations for firms issuing payment stablecoins. This move underscores the growing importance and potential impact of stablecoins in the financial sector.

While acknowledging the success of stablecoin issuer Circle in the current market, Van Eck also highlighted the increasing competition in the space. He mentioned, “There are going to be a lot of competitors entering into this space, challenging the incumbents like Ethereum and Circle.”

As the market anticipates the future implications of these developments, stocks of companies involved in stablecoins have been gaining momentum. Van Eck pointed out that it may take several quarters before the full impact on earnings is realized.

Stay Updated with The Daily Hodl

For more insights and news on the latest trends in the cryptocurrency and finance industry, follow The Daily Hodl on X, Facebook, and Telegram. Don’t miss out on important updates by subscribing to email alerts.

Explore More with The Daily Hodl Mix

Discover a mix of content, including price action analysis and market insights, on The Daily Hodl platform. Stay informed and engaged with the latest developments in the cryptocurrency space.

Generated Image: Midjourney