Just over a year after the collapse of the Silvergate and Signature crypto banks, financial institutions are very interested in cryptocurrencies. PayPal has used its proprietary stablecoin pay auditors Ernst & Young LLP, using a facility provided by SAP. Visa “is helping to bridge existing fiat currencies with blockchains” through its Visa tokenized asset platform (VTAP).
A lot has happened since those banks collapsed, huh? We have a bitcoin ETF, we have crypto bros meddling in politics, and a mini bitcoin-slides-below-63k-diverging-from-gold-as-middle-east-tensions-flare-up/”>bitcoin price boom and bust cycle. I have to assume PayPal and Visa started this a while ago for it to work now, but I think it's curious that they're focusing on stablecoins.
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