Visa Targets Real-World Assets Market in Crypto Markets News with New Tokenized Asset Platform

Thursday, 3 October 2024, 21:28
Crypto markets news highlights Visa’s launch of the Visa Tokenized Asset Platform (VTAP), which aims to integrate real-world assets with crypto ecosystems. This new initiative, born from a partnership with Banco Bilbao Vizcaya Argentaria, positions Visa to capitalize on the growing real-world assets market. As banks connect fiat to blockchains, VTAP sets the stage for a broader financial transformation.
Beincrypto
Visa Targets Real-World Assets Market in Crypto Markets News with New Tokenized Asset Platform

Visa's New Venture in Crypto Markets News

On Thursday, Visa launched the Visa Tokenized Asset Platform (VTAP) through a partnership with a Spanish bank. VTAP is a tool for banks to connect real-world assets (RWAs) to the crypto ecosystem. The RWA market is expanding, and Visa aims to benefit by plugging banks into this evolving sector.

VTAP's Early Stages

Visa announced its latest initiative via a press release, branding the Visa Tokenized Asset Platform (VTAP) as a bridge between traditional finance (TradFi) and blockchain technology. A wide-release pilot with Ethereum is planned for early 2025.

Despite presenting VTAP as a new solution, its links emerged earlier this year when Visa partnered with Banco Bilbao Vizcaya Argentaria (BBVA) aiming for a modest rollout.

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.

Related posts

Newsletter

Get the most reliable and up-to-date financial news with our curated selections. Subscribe to our newsletter for convenient access and enhance your analytical work effortlessly.

Subscribe