Spain’s second-largest bank, BBVA, has announced plans to launch its stablecoin in 2025 in partnership with Visa, positioning itself to compete in the $172 billion stablecoin market.

This move positions BBVA as the latest entrant in the increasingly competitive stablecoin market, following the footsteps of other financial giants like Ripple and PayPal.

Francisco Maroto, BBVA’s head of digital assets, revealed in an interview that the bank is presently in the sandbox phase of Visa’s initiative designed to help financial institutions develop their tokenized assets. BBVA aims to transition from prototype to live operations by 2025.

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