If banks want to mint and manage digital assets they will come 2025 be able to use the Visa Tokenized Asset Platform (VTAP).
The Spanish bank BBVA has been collaborating with Visa on the VTAP and is expected to mint the first stablecoin through the system.
“Excited to introduce the Visa Tokenized Asset Platform, a new Visa product to help bring banks onchain, and our partnership with BBVA to power their first stablecoin,” tweeted Visa crypto director Cuy Sheffield.
The VTAP allows banks to issue fiat-backed tokens and manage digital transactions more efficiently.
The platform is currently in the testing phase and the first live pilot is expected to run on Ethereum blockchain in 2025.
By Staff
