Visa Launches Tokenized Asset Platform on Ethereum, BBVA Targets 2025 Pilot

Sep 25, 2024, 01:12 PM

Visa, the payments giant, has launched a Tokenized Asset Platform to assist banks in testing tokenized assets and smart contracts. Spain’s BBVA is leading the initiative, aiming for a 2025 pilot on the Ethereum network. The platform is designed to issue fiat-backed tokens and explore their applications. The sandbox is live, marking a significant step as Visa supports banks in this new venture. Visa's move into this space is part of a broader trend of traditional financial institutions embracing blockchain technology.