Visa To Launch Its Tokenised Asset Platform For Banks in 2025
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Visa plans to launch its Tokenized Asset Platform (VTAP) for banks in 2025. This platform will let banks issue fiat-backed tokens for use on the Ethereum blockchain, aiming to enhance transaction speed and security. Visas platform seeks to streamline banking transactions and boost security by using Ethereums smart contracts. One of the first financial institutions to use VTAP will be Spanish bank BBVA, which expects to roll out a live pilot in 2025.
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