🔥 Visa Joins RWA, Bringing Real Assets to Blockchain

Visa has just launched the Tokenized Asset Platform (VTAP), which helps banks issue fiat-backed tokens and transact on the blockchain. Specifically:

🔹Issuing and managing fiat-backed tokens:

VTAP helps banks issue fiat-backed tokens (such as USD, EUR), allowing them to easily conduct transactions on the blockchain.

🔹Supporting fast cross-border remittances:

This is especially useful for multinational corporations that need to transfer money 24/7. Currently, cross-border remittances are often limited in time and complexity, but VTAP can improve this through blockchain.

🔹Tokenized real asset transactions:

With VTAP, bank customers can purchase tokenized real assets, such as real estate or bonds, with fiat-backed tokens.

Currently, Visa is working with BBVA bank (Spain) to test and plans to expand the test to a number of other customers in 2025 on the Ethereum blockchain.