Visa has just launched the Visa Tokenized Asset Platform (VTAP) to support banks in issuing stablecoins.
Initially, Visa simply supported banks in creating stablecoins to enter the blockchain market. It can then expand to tokenizing real assets such as real estate, debt securities and commodities
With this platform, banks can transact across borders 24/7, increase transaction speed and reduce intermediary costs significantly.
Currently, Visa is testing VTAP with BBVA - a Spanish banking giant, and if everything goes well, it is expected to pilot on Ethereum in 2025, promising to bring a whole new blockchain playground to the financial world.
