Gate News: Vienna-based cryptocurrency broker Bitpanda announced the launch of a new blockchain network, Vision Chain, aimed at integrating tokenized assets into the EU-regulated financial system. The network is built in collaboration with the Vision Web3 Foundation and Optimism, providing infrastructure for banks and fintech companies to issue and settle assets in compliance with EU regulations such as MiCA and MiFID II.
Vision Chain uses euro-pegged stablecoins to pay transaction fees, avoiding traditional cryptocurrency volatility, and relies on Ethereum layer 2 solution Optimism for settlement processing. Bitpanda states that this blockchain will enable financial institutions to conduct 24/7 trading, simplify asset issuance, trading, and record-keeping, while reducing dependence on traditional decentralized systems.
The market for tokenized assets has broad prospects. A joint report by Boston Consulting Group (BCG) and Ripple projects that by 2033, the total value of tokenized assets could reach $18.9 trillion, with an annual growth rate of 53%. As fintech competition intensifies, Robinhood is testing Robinhood Chain, focusing on tokenized stock trading and DeFi applications. Major Wall Street firms like Nasdaq and the New York Stock Exchange are also developing compliant tokenized securities blockchains.
Bitpanda CEO Lukas Enzersdorfer-Konrad said, “Tokenization is poised to redefine capital markets. European financial institutions have long desired this shift, but infrastructure has been lacking. Through Vision Chain, we’ve built an open yet reliable public blockchain that complies with European regulations, providing digital asset services for financial institutions.”
This move reflects a new trend of integrating cryptocurrency trading channels with traditional financial systems. Financial institutions can leverage Vision Chain to offer tokenized asset services within a regulated environment, while also driving Europe’s market toward digitalization and 24/7 trading.
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