Real-World Assets (RWA) News: Visa's Vision for Tokenized Assets

Wednesday, 25 September 2024, 09:48

Real-world assets (RWA) news highlights Visa's push into tokenized RWAs with its new platform. Visa aims to assist banks like BBVA in exploring tokenized assets and smart contracts. This ambitious initiative aims to strengthen Visa's competitive stance amid increasing scrutiny and market challenges.
Beincrypto
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.


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

Subscribe to our newsletter for the most reliable and up-to-date tech news. Stay informed and elevate your tech expertise effortlessly.

Subscribe