📱Visa launches a platform where banks can issue tokenized deposits backed by fiat and stablecoins

📱Visa launches a platform where banks can issue tokenized deposits backed by fiat and stablecoins

Visa's international tokenized assets platform (VTAP) is set to launch in 2025.

▶️ VTAP will offer a trusted infrastructure for financial institutions to safely leverage blockchain technology.

▶️ Banks participating in this experiment will have access to all VTAP services via an API, facilitating integration.

▶️ The trial phase will involve the issuance, transfer, and redemption of bank-issued tokens on the blockchain, with capabilities to interact with smart contracts.

▶️ BBVA Spain🇪🇸 was one of the first banks to test the platform in 2024, and it now plans to roll out a pilot project for select customers using Ethereum's blockchain.

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