Tokenization is rapidly transforming capital markets, with over $24 billion in real-world assets now on public blockchains, driven by major players like Robinhood and BlackRock. The shift toward onchain infrastructure is allowing fintechs and corporations to streamline processes, reduce reliance on traditional financial intermediaries, and enhance global liquidity. However, challenges remain regarding full ownership rights and the integration of onchain assets with offchain constructs.

Visa is piloting the use of stablecoins for cross-border payments via its Visa Direct platform, aiming to enhance transaction speed and reduce costs for businesses. The initiative allows companies to pre-fund payments with stablecoins, significantly cutting down settlement times from days to minutes.

Open Issuance is a new platform from Bridge that enables businesses to launch and manage their own stablecoins, providing control over product experience and economics without relying on external issuers. It supports customization and interoperability with other stablecoins, facilitating liquidity and reducing costs for businesses. Phantom, a crypto wallet, is the first to utilize this platform for its new stablecoin, CASH.