|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Visa Unveils Tokenized Asset Platform (VTAP) to Help Banks Issue and Manage Fiat-Backed Tokens on Blockchain Networks
Oct 04, 2024 at 06:03 am
On Thursday, Visa Inc. V introduced its new Visa Tokenized Asset Platform (VTAP). It's designed to assist monetary establishments difficulty and handle fiat-backed tokens on blockchain networks, bridging existing fiat currencies with blockchain technology.
Main funds agency Visa Inc. (NYSE:V) unveiled the Visa Tokenized Asset Platform (VTAP) on Thursday, a brand new service aiming to assist monetary establishments difficulty and handle fiat-backed tokens on blockchain networks.
VTAP goals to bridge the hole between present fiat currencies and blockchain expertise, permitting banks to securely carry fiat currencies onto blockchain networks.
VTAP is designed to offer simple integration with minimal technical setup by way of accessible APIs, permitting banks to shortly mint and switch fiat-backed tokens.
Moreover, VTAP helps programmability, permitting banks to make use of sensible contracts to automate workflows and transactions.
VTAP additionally promotes interoperability throughout numerous blockchains, facilitating safe cross-chain exchanges of tokenized real-world property.
“This collaboration marks a major milestone in our exploration of the potential of blockchain expertise and can finally assist allow us to broaden our banking companies and broaden the market with new monetary options,” mentioned Francisco Maroto, Head of Blockchain and Digital Belongings, BBVA.
VTAP has already undergone testing by BBVA this yr, the place core functionalities, together with issuing, transferring, and redeeming a financial institution token on a testnet blockchain, have been efficiently examined.
The financial institution goals to launch an preliminary pilot with choose prospects on the general public Ethereum blockchain in 2025.
“Visa has been on the forefront of digital funds for almost sixty years, and with the introduction of VTAP, we’re as soon once more setting the tempo for the business,” mentioned Vanessa Colella, World Head of Innovation and Digital Partnerships of Visa.
Value Motion: V shares are buying and selling decrease by 0.26% at $276.69 on the final verify on Thursday.
Learn Next: Playbux CEO Envisions Web3 Future Where Crypto Is Earned Via Gaming, Shopping
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- Mocaverse Partners with SYMBIOGENESIS, the NFT Collectible Art Project of Square Enix, to Promote User Onboarding from Web2 to Web3
- Oct 04, 2024 at 02:25 pm
- Mocaverse, the marquee consumer network with an interoperable infrastructure layer of Account, Identity, Reputation, and PointFi systems seeded by
-
- Travis Kelce Seemingly Dropped a Sweet Hint for His Sweetie, Taylor Swift, During His “Grotesquerie” Acting Debut
- Oct 04, 2024 at 02:20 pm
- The NFL star plays a flirty nurse opposite Niecy Nash-Betts' character, Detective Lois Tryon, who offers to bake a cake as a token of gratitude for his kindness.
-
- Bitcoin (BTC) Market Overview: Geopolitical Tensions Impact Trading Dynamics, But Pre-ETFs Anticipation Signals Potential Recovery
- Oct 04, 2024 at 02:20 pm
- Bitcoin (BTC) briefly touched $62,400, but the rapid reversal serves as a stark reminder of the challenges faced by digital assets amid geopolitical tensions.