VanEck Says Stablecoin Super Apps Could Shake Up Payments

More and more companies are looking at stablecoins as a way to cut costs and simplify payments. VanEck CEO Jan Van Eck believes that this shift could eventually shake up the entire traditional payment system.

Good to know

• Jan Van Eck says apps like Robinhood, Kraken, and X could compete directly with payment giants like Visa.
• Stablecoins avoid the 3% fee usually charged by payment intermediaries.
• The GENIUS Act, recently signed by President Trump, introduces tough new rules for companies that issue payment stablecoins.

Van Eck shared his thoughts during an interview with CNBC, pointing out that payment systems could face serious competition soon. He highlighted how stablecoin-powered apps do not rely on third-party processors like Mastercard or Visa, making them cheaper and more attractive to users.

“You cut out the middlemen and the fees drop. That opens the door to a lot of competitors,” Van Eck said. He believes platforms such as X, Kraken, and Robinhood could become major players by turning into so-called super apps that support payments, trading, and more, all within a single interface.

The conversation also touched on the GENIUS Act, which President Trump recently signed. The law lays down strict guidelines for how payment stablecoin issuers operate in the United States. While it may slow some newcomers initially, the regulation also brings clarity, which could encourage more businesses to jump in.

Van Eck admitted it might take several quarters before the effects really show up in earnings. But investors are not waiting. “Stocks are kind of moving in anticipation of that right now,” he said. Circle, for example, has already seen strong growth since going public. Ethereum has also had a solid run in the last month.

Although Circle has a head start, Van Eck expects more firms to enter the market soon. The new competition may shift market dynamics, especially as regulated frameworks like the GENIUS Act lower the uncertainty that once held companies back.