Real-World Assets (RWA) News: Visa's Vision for Tokenized Assets
Real-World Assets (RWA) News: Visa Ventures into Tokenization
Visa, the American multinational payment services giant, has introduced a 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 rolled out a platform to help banks test tokenized assets and smart contracts. BBVA will be one of the first to pilot this initiative, working with select clients on the Ethereum blockchain in 2025. This platform aims to assist global banks in navigating fiat-backed tokens. Visa's move is part of a broader strategy to strengthen its foothold in the digital asset space through tokenization.
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