Visa Targets Real-Asset Market RWA with New Tokenized Platform

Credit card giant Visa made the announcement via a press release, describing its new product as the Visa Tokenized Asset Platform (VTAP). Visa describes the product as a traditional finance (TradFi) tool to connect fiat currencies to blockchain and plans to launch a large-scale pilot with Ethereum in early 2025.

The press release may describe VTAP as a brand-new product, but this isn’t its first public appearance. Visa partnered with Spanish bank Banco Bilbao Vizcaya Argentaria (BBVA) in late September to conduct a small “sandbox” test of VTAP. BBVA will continue to play this leading role in rolling out VTAP gradually.

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