More than a year after the collapse of cryptocurrency banks Silvergate and Signature, financial institutions Very Interested in cryptocurrency. PayPal has used a center provided by SAP to pay auditor Ernst & Young LLP using its proprietary stablecoin. Visa “is helping bridge existing fiat currencies with blockchain” through its Visa Tokenized Asset Platform (VTAP).
A lot has happened since those banks failed, right? We have Bitcoin ETFs, we have crypto bros meddling in politics, and we have mini-boom and bust cycles in the price of Bitcoin. I have to assume that PayPal and Visa got into this a while ago in order to make it popular now, but I do think it’s weird that they’re focusing on stablecoins.
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