Another corporate domino falls, just as we put out the video saying it was going to fall. Tuesday, we dropped our Coinbase, Visa & them pushing forward the bull run video, and by Wednesday morning Visa had announced their bitcoin plans. partnering with crypto banks to connect to their client’s crypto API…allowing the buying and selling of digital currencies through their network. Who does it like us!? No one, that is why you should always set your clock because it’s time for Chico Crypto! Yes, it’s true, Visa is going hard on crypto.
Visa is piloting a suite of crypto APIs, allowing their network of bank partners to perform bitcoin buying and selling. And this is accomplished through a partnership, with the first federally chartered crypto bank, Anchorage which only got its final approval a few weeks ago. So these are remnants left over from the last administration, the OCC, Brian Brooks, former Coinbase CLO…remember, I think there is more to all this than meets the eye & it comes down to a big event expected to happen in late February Earl March the coveted Coinbase IPO. But, we’ve covered that, we know all about it.
Let’s rewind, reverse gears right back to Visas crypto API. Application programming interface. This is important because it’s an API…and this could tie back to the crypto powerhouse API, chainlink. You ready to get stinky!? Who was one of Visa’s first blockchain-based partners!? The one they made a strategic investment in, all the way back in 2014? Well, berkshires business wire covered it then, Visa invested in Docusign.
So what did they do!? Well, DocuSign posted this video of the collaboration together in October of 2015. They built Visa’s first blockchain-based prototype, of an integrated vehicle system for the future of car leasing, built on none other than the bitcoin blockchain and docusigns tech, but also payments to the bitcoin blockchain with Visa. Invested in since 2014, aka early, and working together with bitcoin and payment tech since 2015, aka for a long time.
So what has DocuSign and visa been up to since this demo and proof of concept? A ton. 2016, president of Visa, Ryan Mclnerney spoke of Visas own in-house integrations and the deeper strategic partnership and the POC. In 2018, deeper visa integrations as Docusign integrated with their authorize.net for 1 step signatures and payments. Which is going full steam ahead today, plastered on docusigns website..but it’s not only authorized, today they are integrated with another partner of Visa, who they have invested in.
Stripe. So, Visa, DocuSign and even stripe are close, connected at the hip. I wonder who DocuSign is connected to in the stinky crypto world whose focus is APIs. Yes, it’s that linky! February of 2019, chain link announced that Tom Gonsner, founder of DocuSign would be joining the team as an advisor to the project. And he has posted highly of chainlink on multiple occasions. Now, Chainlink and Docusign are both also apart of something called the Accord project which is about setting the open standards for legally enforcing smart contracts. But within the members, there is another connector. Clause…Now I wonder who created and initiated this project back in 2017?? According to this JAX enter blog post, it was none other than Clause Who funded Clause? Providing them 5.5 million in 2019? None other than DocuSign.
And here is where things get really interesting. Visa was trying to make a major acquisition, they announced in January 2020 that they would be shelling out 5.3 billion for Plaid. The DOJ like Amy Whinehouse said. No, no, no about that blocking it early this year, January 2021.
But the connection is clear. Who was working together in August, while the deal still looked to be going through? Plaid & Clause were and still are to this day with Financial Data Verification and Decisioning in Smart Documents. Shwing babing, something big was in the works…but let me tell you it most likely still is. But a visa is moving full steam ahead, not only through that avenue but multiple others.
And we are gonna slam dunk it in a second, but first time for a short sponsored segment from the team at Dodo, the next generation on Chain liquidity provider. And like always, the full details of our agreement can be found in the description. Liquidity provider, onchain? Sound similar to Uniswap? Decentralized token swapping!?
Well, uniswap is an automated market maker AMM, Dodo is a Proactive Market Maker PMM. Providing many benefits to traders, poolers and arbitrageurs alike. Similar to the AMM, dodo lets liquidity providers pool together assets into token swapping pools, where they earn the fees for trading through the pool from traders.
But unlike the AMM, it gathers the funds from them near market prices only, to provide sufficient liquidity to the pools. Also, DODO dynamically adjusts market prices to encourage the third component arbitrageurs to step in and stabilize LPs’ portfolios. What does this do!? Low slippage for the traders and minimum impermanent loss for the liquidity providers LPs. But also, the big Dodo advantage. Single-sided exposure to pools. With Uniswap, you have to deposit equal values of each token to the pool, ETH-USDC pool, equal value Ethereum, equal value USDC or you cant be an LP. With Dodo, you can deposit any amount, whatever you have and it can be included in their liquidity pools.
For example USDC or ETH, not both…but you can if you would like to. Now the swapper is easy to get used to, like the traditional ones but you get to enjoy the minimal slippage for the trades. Better prices are always a good thing…but, everyone knows bout those DANG Ethereum fees…getting ridiculous but DODO is here to dodo the day.
A couple of weeks ago, they announced their gas reimbursement program, where traders could save up to $35 dollars per trade. How were they accomplishing this? By something I recently covered and knew would be integrated within dapps, Chi Gas token!!!
And another bonus…what oracle solution do you think is powering the PMM price feeds? Only the most solid one, and crypto we just talked about Chainlink! Providing something different, that is what you gotta do in the crowded space of token swappers. A minimal slippage, minimal Impermanent loss, single-sided swapper is just that and if that is something you’re looking for, of course, all links are down in the description! So we gotta narrow in and zero in on, who was working on crypto products for Visa, and that is Raj Parekh, head of crypto product at Visa.
And Raj has been tweeting away, dropping what I would call crumby hints. October of 2020 after visa announced their crypto plans Raj tweeted I’ve talked to many fintechs before the PayPal announcement and they are working on their crypto strategy already. Lots more to come in the future Like his own company Visa, but that was known…he was talking to other fintech giants.
Could it be google, like we said months ago!? Or could it be the one who was quiet all of 2020…Samsung? Those 2 are the ones we think could drop crypto news next! But, getting back to Visa. Like Is said they aren’t only looking at the API and payment side of things in the crypto space. They are getting deeper. Like with DeFi head of product Raj, tweeted this august of 2020.
A big shoutout to the head of strategy and business development at Compound Finance for presenting what Defi and Compound are all about to the many teams at Visa! Thanks for stopping by virtually! Ughhh, I hope you know that this bullish for the compound. And I get why they pulled some of their recent moves. Remember, it was August of 2020 Compound presented to them…they are in talks for something then. Well just 4 months later, Compound announced they were developing their protocol on their own chain, reading the protocol for CBDCs.
Around the same time compound announced their chain, guess who published new research on CBDCs. None other than Visa with a thorough technical paper on how it will be done. So, the final hint I want to give everybody is regarding the heads of Visa & what they are getting into.
Terry Angelos, head of Fintech at Visa, not even in the crypto department…is tweeting about NFTs. Raj product head of crypto is tweeting about NFTs, specifically NBA topshots, built on the flowblockchain. Flow is from dapper lads…who is invested in them? None other than Coinbase & Samsung… And then…As we can see from the blog post on the CBDC.
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