The platform will let banks issue fiat-backed tokens like stablecoins or tokenized deposits.
Spanish bank BBVA is one of the banks piloting the service. Visa plans to launch it in 2025.

The bigger picture: Stablecoin use is limited. In April 2024, there were $2.2 trillion worth of transactions globally, per research from Visa and Allium Labs, but less than 10% of this volume ($149 billion) came from genuine users.

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Visa steps up stablecoin push with Visa Tokenized Asset Platform

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