{"id":172556,"date":"2024-10-03T14:00:18","date_gmt":"2024-10-03T14:00:18","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=172556"},"modified":"2024-10-03T14:00:22","modified_gmt":"2024-10-03T14:00:22","slug":"visa-announces-tokenized-asset-platform-to-manage-stablecoins-and-cbdcs","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/visa-announces-tokenized-asset-platform-to-manage-stablecoins-and-cbdcs\/","title":{"rendered":"Visa Announces Tokenized Asset Platform to Manage Stablecoins and CBDCs"},"content":{"rendered":"<p><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">TL;DR<\/span><\/span><\/strong><\/p>\n<ul>\n<li><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Visa launches Tokenized Asset Platform (VTAP) to issue fiat-backed tokens.<\/span><\/span><\/li>\n<li><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">BBVA will carry out a pilot on Ethereum with VTAP in 2025.<\/span><\/span><\/li>\n<li><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">VTAP will facilitate interoperability between blockchains and automation with smart contracts.<\/span><\/span><\/li>\n<\/ul>\n<hr \/>\n<p style=\"text-align: justify\"><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Visa<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> has <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">introduced<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> its <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">new solution<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> called <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">the Tokenized Asset Platform (VTAP)<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">, designed to help banks issue and manage <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">fiat-backed tokens<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> on <a href=\"https:\/\/crypto-economy.com\/blockchain-technology\/\"><strong>blockchain<\/strong><\/a> networks<\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">.<\/span><\/span><\/strong><\/p>\n<p><!--more--><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">This <\/span><\/span><a href=\"https:\/\/investor.visa.com\/news\/news-details\/2024\/Visa-Introduces-the-Visa-Tokenized-Asset-Platform\/default.aspx\" target=\"_blank\" rel=\"noopener\"><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">development<\/span><\/span><\/strong><\/a><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> marks an important step in the integration of traditional finance with blockchain technology, allowing <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">financial institutions to create their own fiat-backed tokens efficiently and securely.<\/span><\/span><\/strong><\/p>\n<p style=\"text-align: justify\"><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Visa<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">, with its vast global network of over <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">15,000 financial institutions,<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> leverages its expertise in <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">tokenization<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> to introduce this innovative service.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">The <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">VTAP platform<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> allows banks to <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">mint, burn and transfer<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> these tokens in a test environment, providing flexibility to experiment with various use cases before launching live programs, which is expected to happen in <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">2025<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Banks will also be able to use <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">smart contracts<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> to automate processes such as managing <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">complex credit lines<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> or settling <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">tokenized assets<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> in near real-time, opening the door to greater efficiency in banking operations.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">One of the key features of <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">VTAP is its <\/span><\/span><\/strong><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">interoperability<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> capability<\/span><span style=\"vertical-align: inherit\">. <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Visa<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> seeks to create an ecosystem where <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">tokenized real-world assets<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> can securely circulate between different <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">blockchain networks<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">, both public and permissioned.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">This means that with a single <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">API<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> connection, <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">participating banks will be able to interact with multiple blockchains,<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> offering new services to their clients and expanding the possibilities of the global financial system.<\/span><\/span><\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter size-full wp-image-91439\" src=\"https:\/\/crypto-economy.com\/es\/\/wp-content\/uploads\/sites\/4\/2024\/10\/Captura-de-Pantalla-2024-10-03-a-las-10.54.43.png\" alt=\"Visa announces Tokenized Asset Platform to manage stablecoins and CBDCs\" width=\"825\" height=\"300\" \/><\/p>\n<h2><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">The potential of Visa VTAP in banking<\/span><\/span><\/h2>\n<p style=\"text-align: justify\"><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">BBVA<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> has been testing the functionalities of the <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">VTAP sandbox<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">, issuing and transferring tokens on a test blockchain, interacting with smart contracts, and aims to launch a <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">pilot<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> on the <\/span><\/span><a href=\"https:\/\/crypto-economy.com\/what-is-ethereum\/\"><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Ethereum<\/span><\/span><\/strong><\/a><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> public blockchain in <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">2025<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">This project with <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Visa marks an important milestone in the adoption of <\/span><\/span><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">blockchain-<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><strong>based<\/strong> solutions <\/span><span style=\"vertical-align: inherit\">by banks, which <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">will allow institutions to explore new ways of offering innovative financial services.<\/span><\/span><\/strong><\/p>\n<p style=\"text-align: justify\"><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Visa<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">, for its part, is committed to working with banks and fintechs to <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">establish standards that enable the safe and reliable growth of these new payment flows.<\/span><\/span><\/strong><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">As more banks adopt <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">fiat-backed token<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> technology, the <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">VTAP platform<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> is positioned as a key solution to ensure that transactions between fiat currencies and digital assets are seamless and efficiently integrated into the financial system.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">With <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">VTAP<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">, <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Visa<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> continues to demonstrate its leadership in the <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">digital payments industry<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">, providing tools that not only improve the efficiency of banks, but also facilitate the adoption of <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">blockchain technology<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> in a secure and compliant manner.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">The <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">platform<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> not only represents an opportunity for the <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">digitalization<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> of banking processes, but also a step towards a future where <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">fiat currencies<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> and <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">digital assets<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> coexist fluidly in the same ecosystem.<\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>TL;DR Visa launches Tokenized Asset Platform (VTAP) to issue fiat-backed tokens. BBVA will carry out a pilot on Ethereum with VTAP in 2025. VTAP will facilitate interoperability between blockchains and automation with smart contracts. Visa has introduced its new solution called the Tokenized Asset Platform (VTAP), designed to help banks issue and manage fiat-backed tokens &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"Visa Announces Tokenized Asset Platform to Manage Stablecoins and CBDCs\" class=\"read-more button\" href=\"https:\/\/crypto-economy.com\/visa-announces-tokenized-asset-platform-to-manage-stablecoins-and-cbdcs\/#more-172556\" aria-label=\"More on Visa Announces Tokenized Asset Platform to Manage Stablecoins and CBDCs\">Read more<\/a><\/p>\n","protected":false},"author":33,"featured_media":172557,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[102,84,74],"tags":[4620,4656,5001,4904],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/172556"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=172556"}],"version-history":[{"count":1,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/172556\/revisions"}],"predecessor-version":[{"id":172558,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/172556\/revisions\/172558"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/172557"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=172556"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=172556"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=172556"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}