3 Comments

  1. coinfeeds-bot on

    tldr; Visa has launched the Visa Tokenized Asset Platform (VTAP) to help banks issue fiat-backed tokens on blockchain networks. Accessible through its Developer Platform, VTAP allows institutions to develop digital assets like stablecoins and CBDCs. Currently in a sandbox environment, it will be live by 2025. VTAP provides infrastructure for minting, transferring, and settling digital assets. Early adopter BBVA is testing the platform, planning a live pilot on Ethereum in 2025. Visa aims to drive blockchain adoption among banks.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

  2. MinimalGravitas on

    It’s interesting that this is another big financial institution choosing to deploy on the L1, rather than an L2 that they could have more control over.

    That’s Blackrock, Wisdom Tree, Paypal and now Visa, all having made that choice. Of the really big non-crypto companies, I think only Sony has chosen to deploy their own L2.

    Kinda seems like Samara Cohen (Blackrock CIO of ETF & Index Investments) was right when she said that *”permissioned blockchains have lost, and that traditional market participants are coalescing around open-source Ethereum for tokenization”*.

    Larry Fink also said, *”We believe the next step going forward will be the tokenization of financial assets, and that means every stock, every bond will have its own QIP (qualified institutional placement); it’ll be on one general ledger…”*, and it does seem like that’s the direction we’re moving in.

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