Kaiko, a prominent player in the digital assets data and market intelligence sector, has recently announced a strategic partnership with Sonarverse, a leading blockchain indexing and infrastructure company. This collaboration is set to significantly broaden Kaiko’s blockchain data coverage capabilities.
The partnership marks a substantial enhancement in Kaiko’s ability to deliver comprehensive market insights across a wide array of blockchain networks. By integrating Sonarverse’s robust infrastructure, Kaiko aims to improve its time-to-market for new offerings without compromising its core commitment to reliability and stability. The synergy between Kaiko’s proprietary node infrastructure and Sonarverse’s agile product development approach will enable quick Minimum Viable Product (MVP) deployments and new coverage areas.
One of the most notable outcomes of this partnership is the expansion of Kaiko’s on-chain data offerings. Previously covering seven major blockchains, including Bitcoin, Ethereum, Base, BSC, Polygon, BNB Chain, and Avalanche, Kaiko’s coverage will now extend to over 70 blockchains. This growth is not just in numbers but also in the quality and depth of the data provided, ensuring that Kaiko’s clients continue to receive the high-standard, compliant data they have come to expect.
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The expanded blockchain coverage is a strategic move for Kaiko, driven by the need to cater to a versatile market characterized by rapidly changing crypto liquidity and supply dynamics. By leveraging Sonarverse’s expertise, Kaiko can efficiently allocate resources, scaling up or down its offerings in response to the maturity of the markets it serves.
Karamvir Singh, Chief Product Officer at Kaiko, praised Sonarverse’s technical expertise and the precision of their solutions, stating, “Their ability to deliver high-quality, reliable infrastructure at scale is exactly what we need to drive our business forward.” Jesse Bornstein, Global Head of Business Development, echoed this sentiment, expressing excitement about the partnership and its potential to complement Kaiko’s expertise perfectly.
Visa Launches its Tokenized Asset Platform
Visa, the global leader in digital payments, has taken a significant leap into the future of finance with the introduction of the Visa Tokenized Asset Platform (VTAP). This innovative platform is designed to bridge the gap between traditional financial institutions and the burgeoning world of blockchain technology.
The VTAP allows banks to issue fiat-backed tokens, including stablecoins, and manage digital transactions with greater efficiency. With the partnership of BBVA, Visa is set to pilot this platform on the Ethereum blockchain, with live pilots expected in 2025. This move represents a major milestone for Visa, which has been at the forefront of payment innovations for nearly six decades.
One of the key benefits of VTAP is its ease of integration. Banks can mint, burn, and transfer fiat-backed tokens using a test environment provided by Visa, with minimal technical integration required. The platform is accessible via APIs, enabling banks to enhance their financial infrastructure to be always on and more efficient.
Moreover, VTAP’s programmability feature is a game-changer. It allows banks to use fiat-backed tokens within smart contracts, digitizing and automating workflows, and potentially transforming the exchange of real-world assets. For instance, a bank could use smart contracts to administer complex lines of credit and release payments when terms are met or enable customers to purchase tokenized commodities with near-real-time settlement onchain.
Visa’s foray into tokenized assets is not just a technological advancement; it’s a strategic move that positions the company at the intersection of traditional finance and the digital asset space. As the ecosystem of tokenized real-world assets grows across various blockchain networks, Visa’s VTAP stands as a testament to the company’s commitment to innovation and its vision for the future of payments.