Real-World Assets (RWA) News: Visa's Bold Move into Tokenized Asset Platforms

Wednesday, 25 September 2024, 09:48

Real-world assets (RWA) news highlights Visa's introduction of a tokenized asset platform for banks. This innovative move aims to test tokenized assets and smart contracts, with Spain's BBVA leading a pilot project. Visa's initiative reflects its commitment to safeguarding market presence amidst legal challenges.
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Real-World Assets (RWA) News: Visa's Bold Move into Tokenized Asset Platforms

Visa Leads the Charge in Tokenized RWAs

In recent real-world assets (RWA) news, Visa, the American multinational payment services giant, has introduced a tokenized asset platform to assist banks in testing tokenized assets and smart contracts. Spain's Banco Bilbao Vizcaya Argentaria (BBVA) is already exploring the new Visa Tokenized Asset Platform (VTAP) in its sandbox environment. This move signals Visa's efforts to protect its market share as it faces increasing competition and legal challenges.

Visa Taps Into Tokenized RWAs

Visa has introduced a new platform to help banks test tokenized assets and smart contracts. Spain's BBVA will be one of the first to try it, planning a pilot with select customers on the Ethereum blockchain in 2025. Visa says this platform will help global banks work with fiat-backed tokens. This move is part of Visa's ongoing push into the digital asset space, using tokenization to expand its influence.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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