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.
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