Visa Targets Real-World Assets Market with the introduction of the Visa Tokenized Asset Platform (VTAP). This innovative platform, developed through a partnership with the Spanish bank Banco Bilbao Vizcaya Argentaria (BBVA), is designed for financial institutions to launch real-world assets (RWAs) and integrate them into the growing crypto ecosystem.
The credit card giant Visa announced this significant development via a press release, highlighting VTAP as a bridge between traditional finance and blockchain technology. With plans for a wide-release live pilot using Ethereum slated for early 2025, Visa aims to capitalize on the expanding RWA market.
Real-world assets refer to tangible assets like real estate, commodities, and other physical goods that can be tokenized on the blockchain. This innovation opens opportunities for banks to enhance their offerings and engage with the crypto market.
By launching VTAP, Visa is positioning itself at the forefront of the intersection between traditional finance and digital assets, hoping to benefit from the growing demand for real-world asset-backed tokens.
