Visa, Mastercard, JPMorgan, and Citi reveal innovative cryptocurrency plans for “mass institutional adoption” after Bitcoin, Ethereum, and XRP prices soar

Bitcoin
Bitcoin
and virtual currencies (including Ethereum and XRP)
XRP
and other major coins rallied by this year's Wall Street earthquake (which could be blown out of the water by China's “absolutely huge” bomb).

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The price of Bitcoin has surpassed its all-time high of about $70,000 per Bitcoin, and the combined market of Ethereum, XRP, and virtual currency markets has soared to about $2.5 trillion, one analyst said. predicts that former President Donald Trump and the Federal Reserve may be about to trigger a major monetary policy boom in Bitcoin prices.

Now, with Tesla billionaire Elon Musk issuing a dire warning that the US dollar could be headed for collapse, some of Wall Street's biggest banks are using Visa and MasterCard to tokenize their assets. Citi analysts predict this could happen, saying they are testing the cards and systems. “A $5 trillion market by 2030.”

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forbes“I'm fine with that” – Donald Trump sent the price of this tiny Bitcoin rival soaringby billy bumbrough

JPMorgan, Citi, US Bank, and Wells Fargo are partnering with payments giants Visa and Mastercard and global financial messaging service Swift to jointly settle tokenized assets on a shared ledger technology called the Regulated Payments Network. Included among the banks to be tested.

“This represents, to me, the five-yard line for large-scale institutional adoption,” said Colin Butler, global head of institutional capital at Polygon.
polygon
Said block worksadding the latest test has become “progressively more significant” than previous trials such as JPMorgan's Onyx Private Blockchain and the Unified Ledger, a concept introduced last year by the Bank for International Settlements (BIS).

The so-called “proof of concept” regulated payments network takes inspiration from Bitcoin's blockchain technology, which can maintain a shared database without relying on a trusted third party.

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forbes'The dollar will have no value' – Elon Musk warns Stark Fed that 'stealth money printing' will cause prices of Bitcoin, Ethereum and XRP to soarby billy bumbrough

“As blockchain technology continues to mature, public and private organizations will work closely together to consider how blockchain technology can be applied to solve real-world problems and improve efficiency. ” said Raj Damodaran, Executive Vice President, Blockchain and Cryptocurrency. on his MasterCard, it said in a press release.

Asset tokenization is called “the next generation of markets” by BlackRock
black rock
CEO Larry Fink has been leaning into bitcoin and cryptocurrencies over the last year with the launch of the highly successful Spot Bitcoin exchange-traded fund (ETF).

Earlier this year, BlackRock
BLK
has already begun the second phase of its cryptocurrency-based “financial market revolution” plan, quietly announcing the launch of a tokenized private equity fund.

This month, executives at Spot Bitcoin ETF issuer BlackRock revealed that sovereign wealth funds have expressed interest in Bitcoin and could begin trading in the coming months.