Joseph Lubin, co-founder of Ethereum and Consensys, framed Ethereum as a neutral payments and settlement system positioned to capture institutional capital flows. Speaking Sept. 28 at EastPoint: Seoul 2026, Lubin described Ethereum as "trust infrastructure"—a shift from viewing it purely as a digital asset or blockchain network.
Lubin identified "credible neutrality" as Ethereum's primary competitive edge among Layer 1 networks. Most major projects already collaborate with Ethereum, he said, signaling that ecosystem gravity matters more than direct on-chain competition.
As institutions move treasury holdings on-chain, ETH serves dual utility: as a digital asset and as collateral across applications. That structural role—whether for staking, DeFi yields, or protocol participation—drives adoption velocity among large holders.
Joseph Chalom, CEO of SharpLink, the second-largest Ethereum digital asset treasury by AUM, expanded the thesis. Treasury companies holding ETH long-term capture returns through staking and DeFi protocols while remaining deeply embedded in ecosystem development. The parallel Lubin drew to web-era infrastructure companies illustrated how early movers in trust networks compound their positions.
Chalom highlighted two catalysts: asset tokenization and AI agents. BlackRock CEO Larry Fink's push for tokenized assets aligns with SEC policy shifts toward on-chain settlement. Once assets tokenize, autonomous agents will manage many operational and trading functions—and those agents require robust, reliable infrastructure. Ethereum's scale and liquidity position it as the settlement layer for agent-based finance.
Stablecoins, tokenization, and DeFi form the plumbing for agent operations. Chalom stressed that South Korea's regulatory environment and digital-asset market maturity make it critical for understanding how agent-based finance will scale globally. Lubin echoed that assessment, underlining South Korea's role in the evolving digital asset landscape.
