Visa is launching a new platform for banks to manage fiat-backed tokens on the blockchain. BBVA will begin piloting the platform by 2025.

- The VTAP platform will help banks issue, burn, and transfer fiat-backed tokens.

- BBVA has been testing the platform since 2024, but the exact timing of the pilot is unclear.

- Visa is concerned about the use of stablecoins, saying that most transactions are carried out by bots. 🤖