Visa has launched an institutional platform for asset tokenization
Spanish bank BBVA will use it to launch a pilot project on the Ethereum blockchain
25.09.2024 - 16:10
1787
2 min
0
What’s new? Payment company Visa has developed its own institutional platform to issue tokenized real-world assets (RWAs) and test its use cases. It has already been used by the Spanish bank Banco Bilbao Vizcaya Argentaria (BBVA) and has tested the issuance, transfer, and redemption of an internal token on a testnet.
What else is known? BBVA plans to launch a pilot with select customers in 2025. It will use the Ethereum blockchain for tokenization.
Visa’s head of CBDC and tokenized assets Catherine Gu said that enabling instant cross-border transfers is a priority for banks, and blockchain technology can help solve it.
Visa’s head of crypto Cuy Sheffield believes banks could offer customers a fiat currency-backed token to buy tokenized commodities or government debt securities with instant settlement.
In August, the Association for Financial Markets in Europe (AFME) urged local issuers to use blockchain to tokenize bonds and policymakers to develop a regulatory framework.
Steno Research later said that the total value locked (TVL) of DeFi protocols could update the record in the first half of 2025, largely due to the growing popularity of tokenized RWAs.
In September, the Hedera network team launched the Asset Tokenization Studio (ATS) tool to configure, issue, and manage tokenized RWAs in compliance with anti-tokenization regulations.
Useful material?
Market
The seller claims that the data was obtained as a result of a leak in August of this year
Sep 24, 2024
Market
The increase in fees caused an increase in the volume of coins burned during transactions
Sep 23, 2024
Market
The asset is collateralized by short-term treasury bills, overnight repos, and cash
Sep 19, 2024
Market
It will cost less than 2 TRX to complete a transaction
Sep 18, 2024
Market
Curve founder Michael Egorov will act as a development consultant
Sep 17, 2024
Market
The firm had previously invested another $1,1 billion in bitcoin
Sep 17, 2024