Market strategist Tom Lee told CNBC he expects Ethereum’s blockchain to become the backbone of bank-issued stablecoins, predicting lenders will acquire Ether not for speculation but as core infrastructure to secure and settle their digital liabilities.

Lee pointed to institutions such as Goldman Sachs and JPMorgan as likely early adopters, arguing that holding the token would be essential if banks want to guarantee the convertibility and security of their own dollar-pegged coins.

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