Visa shareholders public service announcement!*
It appears the payments giant is getting into the stablecoin business. These banks and payment processors see Tether making money hand over fist and they want in! VTAP is now live and looking to onboard banks.
It appears they are trying to tokenize all the products that banks bring to market and try to make things interoperable. Stocks, bonds, smart contracts, all the buzzwords to generate excitement for a shareholder.
Also they mentioned doing pilots with CBDCs which is troubling.
VTAP sounds like Taproot Assets but based upon the legacy system. Just too bad these companies.
I am still neutral on Visa. I see the positive with the partnership with fold which is one of the better bitcoin businesses out there but then they do stuff like this. If I had shares I would hold them for now
I have been trying to tell eth people that when asset tokenization does happen, it's not going to happen on ethereum.
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Anyone can print more tokens, any time. Banks already have relationships with Visa, so they now can easily print shittokens on Ethereum blockchain all day and night. Visa could even build in LP trade contracts and transfer tax and denylists to these contracts like the Crypto boys last cycle.
There are only 2.1 Ps (petasat, or quadrillion satoshi) chasing an infinite number of nonsense things. Allocate capital accordingly.
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