Visa Launches Tokenized Asset Management Platform

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Table of Content

In today edition we talk about

• Visa Launches Tokenized Asset Management Platform

• Binance Labs Invests in Sophon Ahead of Mainnet Launch

• Swift to Begin Live Digital Asset Transaction Trials in 2025

• Grayscale Launches Aave Investment Fund Amid Token Surge

Visa Launches Tokenized Asset Management Platform

Visa has announced the launch of its Visa Tokenized Asset Platform (VTAP), designed to issue and manage digital assets like stablecoins and central bank digital currencies (CBDCs). Currently in a sandbox phase, VTAP is being tested by institutions such as BBVA.Aimed at institutional investors and central banks, VTAP offers infrastructure for securely minting, transferring, and settling digital assets across both public and permissioned blockchains. Visa sees this platform as a way to help banks automate workflows and integrate blockchain technology.Despite this innovation, Visa is under scrutiny from U.S. authorities. The Department of Justice recently filed an antitrust lawsuit against the company, accusing it of maintaining a monopoly in debit payments.

Binance Labs Invests in Sophon Ahead of Mainnet Launch

Binance Labs has invested an undisclosed sum in Sophon, a ZKsync "elastic chain" built using Matter Labs' ZK Stack framework, ahead of its mainnet and token deployment next month. This brings Sophon’s total funding to over $70 million, following a node sale and seed round earlier this year.

Sophon, formerly known as "hyperchain," is a Layer 2 network that aims to enhance blockchain applications by focusing on platform experience and user engagement. Its co-founder, Seb, noted that unlike generalist blockchains like ZKsync Era, Sophon aims to integrate web3 with everyday applications, offering a seamless and culturally rich user experience.

Swift to Begin Live Digital Asset Transaction Trials in 2025

Swift announced that banks in North America, Europe, and Asia will start live trials of digital asset and currency transactions over its global network in 2025. This marks Swift's first move from testing blockchain transactions to real-world settlement.The trials will use Swift's current infrastructure to enable banks to conduct cross-border transactions with both digital and fiat currencies. The initiative aims to demonstrate how financial institutions can seamlessly integrate digital and traditional currencies through Swift’s network. By connecting public and private blockchains, Swift seeks to bridge emerging digital platforms with traditional finance, ensuring global interoperability and supporting the growth of tokenized assets and central bank digital currencies.

Grayscale Launches Aave Investment Fund Amid Token Surge

Grayscale Investments has launched a new investment fund for Aave’s governance token, AAVE, according to an October 3 announcement. The Grayscale Aave Trust offers qualified investors exposure to the AAVE token, adding to Grayscale's single-asset crypto products.Aave, a leading decentralized finance (DeFi) platform, facilitates borrowing and lending through smart contracts. The AAVE token has surged over 110% in the past year, following upgrades to its tokenomics that direct a portion of the platform’s revenue to AAVE stakers. Grayscale is the largest crypto asset manager, with $21 billion under management, and also manages funds for other tokens like Basic Attention Token (BAT) and Chainlink (LINK).

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