The big boys want in on crypto, too

Illustration of coins running through the columns of the Supreme Court portico
Illustration by Alex Castro / The Verge

Just over a year after the collapse of crypto banks Silvergate and Signature, they are financial institutions very Interested in crypto. PayPal used its proprietary stablecoin to pay auditors Ernst & Young LLP through a hub provided by SAP. Visa “helps connect existing fiat currencies to blockchains” through its Visa Tokenized Asset Platform (VTAP).

A lot has happened since that bank collapsed, hasn't it? We have a Bitcoin ETF, we have crypto bros getting involved in politics, and a little boom and bust cycle in Bitcoin prices. I have to assume that PayPal and Visa started this a while ago so it can really take off, but I find it strange that they are focusing on stablecoins.

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