Visa Unveils Ethereum Tokenization Platform for Banks

Thursday, 3 October 2024, 08:44

Ethereum tokenization is now in focus as Visa unveils its latest platform, VTAP, allowing banks to manage fiat-backed tokens. BBVA stands out as the early adopter, poised to pilot this innovative solution in 2025. This significant development promises to revolutionize banking transactions.
Cryptobriefing
Visa Unveils Ethereum Tokenization Platform for Banks

Ethereum Tokenization Takes Center Stage

In a groundbreaking move for the cryptocurrency and banking sectors, Visa has launched its Ethereum-based tokenization platform, named VTAP. This platform enables banks to issue and manage fiat-backed tokens, significantly enhancing the digital payment landscape.

BBVA Leads the Charge

BBVA is leading the way as the first bank to adopt this platform, with live pilots scheduled for 2025. This collaboration showcases Ethereum's growing role in mainstream finance.

  • Enhances banking efficiency
  • Promotes secure transactions
  • Supports fiat-backed tokenization

Implications for the Future

If successful, VTAP may reshape how banks operate, paving the way for broader adoption of blockchain technology in financial services.


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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