Vienna-based crypto broker Bitpanda has announced the launch of "Vision Chain," a new blockchain network designed to integrate tokenized assets into Europe's regulated financial system. The network, developed with the Vision Web3 Foundation and Optimism, aims to provide infrastructure for banks and fintechs to issue and settle tokenized assets under EU regulations such as MiCA and MiFID II. Vision Chain utilizes euro-denominated stablecoins for transaction fees to mitigate crypto volatility and leverages Optimism's Ethereum-based infrastructure for settlement and scaling.
This initiative is part of a broader trend in global finance towards tokenization, which is expected to streamline asset issuance, trading, and recording. A report by Boston Consulting Group and Ripple projects that tokenized assets could grow 53% annually, reaching $18.9 trillion by 2033. Bitpanda's move aligns with efforts by other financial firms, including Robinhood and major exchanges like Nasdaq and NYSE, to develop blockchain platforms for tokenized securities. Bitpanda CEO Lukas Enzersdorfer-Konrad emphasized the importance of Vision Chain in bridging crypto and traditional finance, tailored to Europe's regulatory standards.
Bitpanda Launches Vision Chain for EU Banks and Tokenized Assets
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