Ethereum co-founder and Consensys CEO Joe Lubin confirmed his company is working closely with institutions from a major country.
These include sovereign wealth funds and national banks seeking to build infrastructure on the Ethereum blockchain using Layer 1 and Layer 2 technologies.
Lubin disclosed this development on a recent podcast appearance, pointing to a shift in global financial interest.
Lubin concluded that decentralized protocols like Ethereum would eventually support a new global financial ecosystem, replacing the old one.
According to him, the economic instability coupled with growing discontent with the traditional banking system is accelerating the pace at which blockchain is being adopted.
Financial elites are seeking stronger, programmable networks with transparency, qualities that Ethereum can deliver, Lubin concluded.
Lubin recently led a $425 million investment into SharpLink Gaming, a public company trying to set up an Ethereum treasury.
It is one of the biggest bets by a public company on ETH, thus positioning Lubin at the forefront of institutional movement.
He recently updated his role to Chairman of the SharpLink board, guiding the company’s strategy on leveraging Ethereum for yield generation via staking, restaking, and decentralized finance mechanisms.
SharpLink stock soars on Ethereum treasury plans
SharpLink’s stock saw a significant increase, rising over 900% in a month despite recent volatility. Unlike firms that hoard Bitcoin for speculative gain, SharpLink plans to use ETH active utility in its business.
Lubin believes Ethereum’s smart contract capabilities give it broader economic value than static assets like Bitcoin. Conversations between Consensys and unnamed national institutions may signal Ethereum’s arrival as a core layer in global financial systems.
While Bitcoin is a store of value, Lubin sees ETH as a foundational platform for innovation and trust. He thinks that the value of Ether could surpass that of Bitcoin because it is more useful significantly across finance, governance, and technology.
Ethereum is now closer than ever to being adopted by institutions and governments at an official level.
