Golden Finance reported that Spanish bank BBVA plans to launch a stablecoin business in cooperation with Visa next year. Francisco Maroto, head of digital assets and blockchain at BBVA, said that the bank is currently in the sandbox stage of Visa's new program, which aims to help companies launch their own tokenized assets and hopes to enter the prototype stage and put it into actual operation by 2025. Francisco Maroto also said that BBVA has not yet decided whether the stablecoin will be backed by deposits, money market funds or legal currencies such as the euro or the US dollar, adding that the company plans to use it for the settlement layer of exchanges.