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