By: Gustian Farrow, Head of StoneX TV • Content Channels
Eric Rose, StoneX Head of Digital Asset Execution, outlines the evolving role of blockchain, Bitcoin, Ethereum, and stablecoins in global finance.
Rose highlights blockchain’s potential to reshape financial and non-financial systems. While Bitcoin was the first use case in 2009, blockchain applications are now emerging across industries. Much of this integration will happen behind the scenes, similar to how most people use the internet without understanding its underlying technology. He adds that Ethereum plays a foundational role as a base layer for decentralized applications, enabling monetization and innovation. Other digital assets aim to replace existing systems, particularly in data transfer and value exchange.
Stablecoins represent digital versions of traditional currencies, typically pegged 1-to-1 with underlying assets like US dollars. Rose explains how they enable near-instant, low-friction transactions compared to traditional banking processes. Regulation, such as the Genius Act, is helping build trust and structure in the stablecoin market. While stablecoins are not designed as investment vehicles, their utility in cross-border payments and collateral management could significantly expand their use in the global financial ecosystem.
Rose notes that the U.S. has lagged behind other regions in regulating digital assets. Recent changes, including the rollback of certain banking restrictions and the introduction of ETFs for Bitcoin and Ethereum, have broadened investor access. ETF wrappers allow exposure to price movements without holding the underlying asset, sparking interest among traditional investors. Additional filings for tokens such as Solana and XRP suggest the expansion of regulated investment options will continue.
The emergence of digital asset treasury companies, such as MicroStrategy, has created consistent buying pressure in Bitcoin and Ethereum. These firms use equity and debt issuance to acquire and hold digital assets, offering traditional investors new access points. Rose identifies several future growth drivers: clearer definitions of digital assets, technological innovation akin to the early internet, safe-haven demand during global instability, and the increasing participation of regulated financial institutions in custody and trading. Together, these factors could accelerate the integration of digital assets into mainstream finance.
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---- Written by Frederic Guetin, StoneX TV Producer
---- Expert: Eric Rose, StoneX Head of Digital Asset Execution
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