Visa Targets
Real-
World Assets Market
With New Tokenized
Asset Platform
On Thursday, Visa launched the Visa Tokenized Asset Platform (VTAP) through a
partnership with a Spanish bank. VTAP is a tool for banks to launch real-world
assets (RWAs), connecting them to the crypto ecosystem.
The RWA market is growing, and Visa hopes to reap the rewards of plugging
banks in.
VTAP s Early Stages
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Sponsored
Credit card giant Visa declared this news via a press release, describing its
new product as the Visa Tokenized Asset Platform (VTAP). Visa called it a
product for traditional finance (TradFi) to bridge fiat currencies with
blockchains and planned a wide-release live pilot with Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum in early 2025.
Read More: Real World Asset (RWA) Backed Tokens Explained
The press release may describe VTAP as a completely new product, but this is
not its first public appearance. Visa began a partnership with Spanish bank
Banco Bilbao Vizcaya Argentaria (BBVA) in late September, intending to carry
out a small sandbox test of VTAP. BBVA will continue to play
this leading role in VTAP s gradual rollout.
We are proud to continue spearheading the exploration of tokenized
solutions with Visa through its VTAP platform. This collaboration marks a
significant milestone and will ultimately help enable us to broaden our
banking services and expand the market, said Francisco Maroto, Head of
Blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн and Digital Assets at BBVA.
Visa s press release focused on VTAP s ability to plug traditional
finance into crypto by creating RWAs, especially stablecoins. This big-picture
analysis, however, is less useful at describing VTAP s influence in
regular bank operations. A Fortune interview with Maroto helps elucidate the
picture on the ground.
Visa, Real-World Assets and Stablecoins
The interview described BBVA s partnership with Visa as more of a
stablecoin launch than the development of a new financial tool. Maroto
didn t mention VTAP by name, claiming instead that BBVA is building a
new stablecoin for the crypto settlements. BBVA s European area of
operations is a big asset to Visa due to recent EU stablecoin regulations .
Sponsored
Sponsored
Read More: What Is Markets in Crypto-Assets (MiCA)?
In other words, VTAP isn t just a platform to connect TradFi to the
blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн world; it s a way to connect Visa to the growing RWA market.
Visa has conducted experiments with RWAs, such as tokenized deposits in
multiple jurisdictions this year, and VTAP aims to take it worldwide. RWAs are
a growing market, and VTAP looks like Visa s ticket in. RWA Market
Growth. Source: rwa.xyz
Considering the sheer speed of growth in the RWA market, Visa s project
will be quite interesting. If other banks follow BBVA s lead and use
VTAP to enter the stablecoins sector, Visa will reap huge rewards. However, if
profits are tempting enough, other institutions will surely develop their own
RWA platforms.
Ultimately, VTAP is still in the early stages. Visa will focus on the specific
partnership with BBVA for at least several months, and the results will
determine the wider rollout. Still, if conditions are right, VTAP could prove
a formidable tool for TradFi institutions in the future.
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