Visa, Mastercard, JPMorgan And Citi Reveal Game-Changing Crypto Plan For ‘Mass Institutional Adoption’ After Bitcoin, Ethereum And XRP Price Pump

Bitcoin
Bitcoin
and crypto—including ethereum, XRP
XRP
and other major coins—have been boosted by a Wall Street earthquake this year (which could be blown out of the water by an “absolutely enormous” China bombshell).

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The bitcoin price has topped its previous all-time high of around $70,000 per bitcoin helping the combined ethereum, XRP and crypto market soar to around $2.5 trillion with one analyst predicting former U.S. president Donald Trump and the Federal Reserve could be about to trigger a massive bitcoin price boom.

Now, as Tesla billionaire Elon Musk issues a serious warning that the U.S. dollar could be heading for collapse, some of Wall Street’s biggest banks have revealed they’re testing a system with Visa and Mastercard to tokenize their assets—something Citi analysts predict could become a “$5 trillion market by 2030.”

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Forbes‘I’m Good With It’-Donald Trump Just Sent The Price Of This Tiny Bitcoin Rival SoaringBy Billy Bambrough

JPMorgan, Citi, U.S. Bank, and Wells Fargo are among the banks that will test the common settlement of tokenized assets on shared-ledger technology called the regulated settlement network with payment giants Visa and Mastercard as well as global financial messaging service Swift.

“This represents to me the five-yard-line for mass institutional adoption,” Colin Butler, global head of institutional capital at Polygon
Polygon
, told Blockworks., adding the latest test is “incrementally more important” than earlier trials such as JPMorgan’s onyx private blockchain and unified ledger, a concept introduced by the Bank of International Settlements (BIS) last year.

The regulated settlement network so-called “proof of concept” is inspired by bitcoin’s blockchain technology that allows a shared database to be maintained without a relying on a trusted third party.

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Forbes‘The Dollar Will Be Worth Nothing’-Elon Musk Issues Stark Fed Warning As ‘Stealth Money Printing’ Grinds Bitcoin, Ethereum And XRP Price HigherBy Billy Bambrough

“As blockchain technology continues to mature, it will be critical for public and private organizations to partner closely to explore how it can be applied to solve for real-world pain points and improve efficiencies,” Raj Dhamodharan, executive vice president for blockchain and crypto at Mastercard, said in a press release.

The tokenization of assets has been called the “next generation for markets,” by BlackRock
BlackRock
chief executive Larry Fink who has leaned into bitcoin and crypto over the last year with the launch of its hugely successful spot bitcoin exchange-traded fund (ETF).

Earlier this year, BlackRock
BLK
quietly revealed it’s already begun the second stage in its plan for a crypto-based “revolution in financial markets,” launching a tokenized private equity fund.

This month, an executive at spot bitcoin ETF issuer BlackRock has revealed sovereign wealth funds are showing interest in bitcoin—and could begin trading in coming months.