VanEck’s Latest Crypto Insights: With Facebook’s Libra, Stablecoins Have Burst Onto the Scene
July 16 2019 - 2:14PM
Business Wire
In the wake of the debate around Libra, Jan van
Eck and Gabor Gurbacs point to stablecoins, the Lightning Network
and sidechains as strengthening the Bitcoin and crypto
ecosystem.
VanEck has released its latest Market Insights piece, jointly
written by CEO Jan van Eck and Director of Digital Assets Strategy
Gabor Gurbacs.
The piece, “Facebook’s Libra: Stablecoins Burst on the Scene,”
provides a deep dive into the firm’s views on the evolution of
stablecoins, what they mean for the crypto ecosystem, and how
Facebook’s plans for its own cryptocurrency, dubbed “Libra,” have
spurred an important and necessary debate on the role that crypto
can play in global payments and more.
“We believe stablecoins, the Lightning Network and sidechains
will strengthen the Bitcoin and cryptocurrency ecosystem, and we
are continuing to watch several top developments in this space over
the next year,” write van Eck and Gurbacs. “We still think that
bitcoin has the potential to become a type of digital gold, a
possible modern ‘store of value.’ Bitcoin and digital assets are
already a part of many investor portfolios, just not in traditional
brokerage accounts, and it may play a bigger role with
appropriately regulated, insured and liquid access vehicles, such
as ETFs.”
“The U.S. may benefit from embracing these innovative
technologies,” they add. “A market-led 10-year plan to upgrade U.S.
payments, currency and capital markets infrastructure may further
the public interest.”
The full post can be found here:
https://www.vaneck.com/blogs/market-insights/facebook-libra-stablecoins-burst-on-scene
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