2024

Bitcoin

<h4><strong>According this <a href="https://www.coindesk.com/business/2024/09/25/visa-to-help-banks-issue-fiat-backed-tokens-on-ethereum-via-new-tokenized-asset-platform/?ref=blockhead.co" target="_blank" rel="noopener noreferrer nofollow">Coindesk</a>, this platform will let banks create tokens that represent real-world assets like bonds and commodities, all backed by traditional money, known as fiat currency. </strong></h4>
<p>The Spanish bank Banco Bilbao Vizcaya Argentaria (BBVA) is already on board to try it out. Let’s explore more about this new tokenized asset platform.</p>
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      <h5><strong>Visa’s New Platform Revolutionizes Transactions with Tokenized Assets</strong></h5>
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<p>So, what does VTAP mean for banks and their customers? Well, it’s like having a magic key that opens up new doors for money transfers and transactions. VTAP is set to launch a pilot program in 2025, and it aims to make several financial operations smoother and cheaper.</p>
<p>For instance, it can help bank customers send money to each other instantly, allowing for real-time transactions. It also opens the door for interbank transfers, which means banks can send money to each other faster and more efficiently, using something called wholesale <a href="https://www.altcoinbuzz.io/?s=cbdc" target="_blank" rel="noopener noreferrer nofollow">central bank digital currencies (CBDCs)</a>.</p>
<blockquote class="twitter-tweet">
 <p dir="ltr" lang="en"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2757.png" alt="❗" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://twitter.com/Visa?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@Visa</a> has rolled out the Visa Tokenized Asset Platform (<a href="https://twitter.com/hashtag/VTAP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#VTAP</a>)</p>
 <p>VTAP enables the development of fiat-backed tokens powered by smart contracts. Spanish bank <a href="https://twitter.com/hashtag/BBVA?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BBVA</a> will become the first financial institution to use the platform.</p>
 <p><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f449.png" alt="👉" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/bu1mxb01vu" rel="noopener noreferrer nofollow">https://t.co/bu1mxb01vu</a> <a href="https://t.co/WLibZGa5Ka" rel="noopener noreferrer nofollow">pic.twitter.com/WLibZGa5Ka</a></p>
 <p>— <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f1fa-1f1e6.png" alt="🇺🇦" class="wp-smiley" style="height: 1em; max-height: 1em;"> CryptoDiffer – StandWithUkraine <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f1fa-1f1e6.png" alt="🇺🇦" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@CryptoDiffer) <a href="https://twitter.com/CryptoDiffer/status/1839236647025577998?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 26, 2024</a></p>
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<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>Imagine a world where transferring money across borders is as easy as pie. VTAP aims to do just that for multinational companies. With this platform, businesses will be able to make cross-border transactions more quickly and with fewer costs. This is important because many companies today operate in multiple countries and need to send money to different locations.</p>
<p>What makes this platform so special is its use of <a href="https://www.altcoinbuzz.io/?s=ethereum" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a>, a popular blockchain that many people trust. By using blockchain technology, VTAP ensures that transactions are secure and transparent.</p>
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<h6><strong>Disclaimer</strong></h6>
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p>
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/visa-launches-new-tokenized-asset-platform-for-banks/" rel="noopener noreferrer nofollow">Visa Launches New Tokenized Asset Platform for Banks</a> appeared first on <a href="https://www.altcoinbuzz.io" rel="noopener noreferrer nofollow">Altcoin Buzz</a>.</p>

Visa Launches New Tokenized Asset Platform for Banks

Altcoin Buzz

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