Payment company Visa (V) has created a new offering to assist banks in issuing tokens backed by currency on the Ethereum network.
According to an official statement, the Visa Tokenized Asset Platform (VTAP) will enable fiat-backed tokens driven by smart contracts. This will assist in digitizing and automating current procedures and enabling the exchange of real-world assets (RWAs).
As per the release, a bank would use Visa’s new platform to purchase tokenized RWAs. It is done with funds with near real-time settlement, such as bonds or commodities.
BBVA Plots Its Ethereum Blockchain Pilot By 2025 Using VTAP
Remarkably, this year, Banco Bilbao Vizcaya Argentaria (BBVA) of Spain has already begun using the platform. Based on the themes of creating, transferring, and redeeming, the trial conducted by that bank used the technology in Spain.
BBVA will implement the first pilot of the blockchain system based on Ethereum by the end of 2025. Its functionality will reportedly be
We współpracy z: https://www.thecoinrepublic.com/2024/09/27/can-visas-new-platform-revolutionize-global-bank-tokenization/
