Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Pi Network Token makes debut debut on Kraken with eternal futures with 20x leverage

2025-05-24

Injectively does the AI ​​tinkling stoot with an increase of 12% – is $ 17 possible for INJ?

2025-05-24

How will a Bitcoin price temperature of 2.67 influence the future of BTC?

2025-05-24
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
Facebook X (Twitter) Instagram
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain

    Even launches a dedicated avalanche chain to strengthen the future of Fan-First music

    2025-05-24

    Bubblemaps V2 goes live on BNB chain, unlocking deep tok transparency

    2025-05-23

    FIFA to build his own blockchain on avalanche

    2025-05-23

    The graph makes safe cross-chain transfers from GRT possible with CCIP from Chainlink

    2025-05-23

    Unmarshal partners with GPTverse to bring real-time blockchain data to AI-ecosystem

    2025-05-23
  • NFT

    Alchemy acquires NFT Launchpad Heymint to speed up the development of Smart Wallet

    2025-05-23

    Delorean launches a car marketplace on the chains with Patrick Stewart

    2025-05-23

    Beratone NFT Avatars are now live on OpenSea

    2025-05-23

    Hashrate Hackers introduces Ordinals NFT collections supported by Bitcoin Hashrate

    2025-05-22

    FIFA starts Avalanche L1 to Power Soccer NFT Collectibles Platform

    2025-05-22
  • Metaverse

    Shib: The Metaverse – Part of the expanding Shiba Inu ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Human Digital Life

    2024-12-13

    Exploring NetVRk: What’s Behind This AI-Powered Virtual Universe?

    2024-10-28

    Council of Europe emphasizes the impact of Metaverse on privacy and democracy

    2024-09-05
  • Analysis

    Pi Network Token makes debut debut on Kraken with eternal futures with 20x leverage

    2025-05-24

    World’s Top Crypto Exchange by Trading Volume announces upcoming support for consumer -oriented Altcoin on Binance Alpha

    2025-05-23

    Bulls Eye $ 2.50 with Bullish Stailwind in the game

    2025-05-23

    Indicators show that the retail trade remains offside as a bitcoin trade at new highlights

    2025-05-23

    Kraken Taps Solana Blockchain to roll out tokenized US shares and ETFs for non-American traders

    2025-05-23
  • Learn

    Wat is circulerende levering in cryptocurrency?

    2025-05-23

    What Is a DEX (Decentralized Exchange)?

    2025-05-21

    Blockchain Explained: What It Is, How It Works and Why We Need It

    2025-05-21

    Types of Blockchain Layers Explained: Layer 0, Layer 1, Layer 2 and Layer 3

    2025-05-16

    Token vs. Coin: Key Differences You Must Know as a Beginner

    2025-05-15
  • Blog
  • Contact
    • Tech7685@gmail.com
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Blockchain»Visa to help banks test tokenized assets and smart contracts
Blockchain

Visa to help banks test tokenized assets and smart contracts

2024-09-26No Comments5 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

Visa has created a new platform in an effort to help financial institutions issue fiat-backed tokens and test their use cases.

The payments giant’s guidance to banks exploring this space is part of a broader effort to create global standards that ease interactions between such entities, Visa executives noted.

As more real-world assets — from real estate to debt securities — end up on blockchains, there’s a growing need to bring more forms of cash onto those rails to trade them, Visa crypto head Cuy Sheffield said.

“We believe this creates a significant opportunity for banks to issue their own fiat-backed tokens on blockchains, do so in a regulated manner and enable their customers to access and participate in these activities. chain capital markets,” he told Blockworks.

Visa has seen firsthand how central banks are exploring the potential of tokenization and how it can modernize financial infrastructure, Sheffield noted.

For example, the company piloted with HSBC and Hang Seng Bank last year as part of the Hong Kong Monetary Authority’s Digital Hong Kong Dollar program. The test simulated interbank business-to-business payments, including property payments and settlements between collection agencies and merchants.

Also last year, the Central Bank of Brazil chose Visa to participate in a CBDC digital reality pilot.

Read more: ‘Learning by doing’ is critical to the development of the digital dollar, says Visa executive

“And then we started to see more interest from a lot of commercial banks and our existing partners who were tip-toeing around saying, ‘What are fiat-backed tokens and tokenized deposits?’” Sheffield told Blockworks earlier this year. “’Should we make one?’”

See also  Alchemy Pay has partnered with Another-1 for Phygital Fashion on Polygon

Spain-based Banco Bilbao Vizcaya Argentaria (BBVA) has been working in the new Visa Tokenized Asset Platform (VTAP) sandbox this year, Visa said on Wednesday.

The bank tested the issuance, transfer and redemption of a bank token on a testnet blockchain. It aims to launch an initial pilot with selected customers on the Ethereum blockchain in 2025.

“From our experience with banks, this is true [a slow process] for a reason,” Sheffield said. “You have to be careful and make sure you understand the technology and that you educate internal stakeholders as well as regulators.”

Fintechs, like PayPal, have taken innovative steps with stablecoins in recent years. Major asset managers have begun to embrace blockchain technology more meaningfully, with BlackRock launching its USD Institutional Digital Liquidity Fund in March.

Franklin Templeton, which launched its OnChain US Government Money Fund in 2021, began allowing institutional investors to transfer shares of the fund to other shareholders earlier this year.

Read more: A stablecoin with returns? Tokenized fund may be just the beginning for a fund giant

“We think the next phase is the arrival of the banks, who start to experiment and create their own products,” Sheffield told Blockworks. “I think this will open up a lot of opportunities if you can have more liquidity.”

What are the usage scenarios?

One of the lowest hanging fruits for banks is allowing real-time money movement between their own customers, Visa executives said.

For example, the JPM Coin System, an authorized payment trail and ledger for deposit accounts, makes this possible.

Read more: JPMorgan adds ‘holy grail’ payments feature as part of blockchain push

See also  JPMorgan Chase to pay $18,000,000 fine for forcing customers to keep quiet about bank's bad behavior

In markets where central banks are actively creating large-scale CBDCs, financial institutions are also interested in interbank transfers.

Catherine Gu, Visa’s head of CBDC and tokenized assets, told Blockworks that offering cross-border transfers to customers is an area of ​​focus for banks.

“Especially for multinational companies that move money 24/7, the ability to do so is very limited right now,” she said. “So a lot of these big banks – when they look at the use cases of blockchain – are really coming from that perspective.”

Interacting with tokenized real-world assets could ultimately drive the most demand, Sheffield said.

Read more: How the latest TradFi blockchain trial could mark the ‘five-meter line’ for mass adoption

For example, a bank could let customers use a fiat-backed token to buy tokenized commodities or government bonds with instant settlement.

Using smart contracts to create structured finance products is another area that banks are exploring.

“You can have collateral that represents a commodity,” Sheffield explains. ‘And then you [will] can borrow in a tokenized version of fiat against that asset, and that can all happen automatically through a smart contract.”

Banks will likely use and create products on a range of public and private blockchains based on the use cases and regulatory environment in which they operate.

Read more: Goldman Sachs head of digital assets: The future is in public blockchains

Fragmentation remains a major hurdle to overcome, Gu said, noting that there is no one-size-fits-all approach to tokenization and smart contracts.

Visa could try to help create standards to ensure interoperability among financial institutions entering this segment.

See also  A huge improvement in the field of state chains

“It would be nice to think about a unified platform, namely the blockchain, that would allow you to facilitate both cash flow and everything you’re trying to trade and transact,” Gu noted. “To really think about how tokenization can become mainstream, you have to think about a way to do that.”

Source link

Assets Banks Contracts Smart Test tokenized Visa
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Even launches a dedicated avalanche chain to strengthen the future of Fan-First music

2025-05-24

Bubblemaps V2 goes live on BNB chain, unlocking deep tok transparency

2025-05-23

FIFA to build his own blockchain on avalanche

2025-05-23

The graph makes safe cross-chain transfers from GRT possible with CCIP from Chainlink

2025-05-23
Add A Comment

Comments are closed.

Top Posts

Fed Governor Waller casts doubt on CBDC payments relief program

2024-11-12

$ 350k bitcoin? CEO of Crypto Investment Firm predicts a huge increase

2025-02-09

SubQuery Reveals Full Support for Telos Blockchain with Lightning-Fast Data Indexing

2024-02-05
Editors Picks

This new Robinhood update is bigger than it seems

2024-07-03

Could Telegram Become the Next Super App?

2024-07-19

Brazilian Chess Competition to Transfer Winners NFTs

2023-05-10

Tether CEO Paolo Ardoino teases potential Pear Phone powered by P2P apps

2024-05-05
About
About

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Pi Network Token makes debut debut on Kraken with eternal futures with 20x leverage

Injectively does the AI ​​tinkling stoot with an increase of 12% – is $ 17 possible for INJ?

How will a Bitcoin price temperature of 2.67 influence the future of BTC?

Get Informed

Subscribe to Updates

Get the latest news and Update from Free.cc about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
© 2025 Free.cc - All rights reserved. Contact: info@free.cc

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$110,422.60-0.12%
  • ethereumEthereum(ETH)$2,651.881.61%
  • tetherTether USDt(USDT)$1.00-0.02%
  • rippleXRP(XRP)$2.420.78%
  • binancecoinBNB(BNB)$683.320.50%
  • solanaSolana(SOL)$180.372.50%
  • usd-coinUSDC(USDC)$1.00-0.01%
  • dogecoinDogecoin(DOGE)$0.2425701.84%
  • cardanoCardano(ADA)$0.812.40%
  • tronTRON(TRX)$0.2731790.29%
  • suiSui(SUI)$3.82-5.40%
  • hyperliquidHyperliquid(HYPE)$35.0515.09%
  • chainlinkChainlink(LINK)$16.591.94%
  • avalanche-2Avalanche(AVAX)$24.963.88%
  • stellarStellar(XLM)$0.3003471.03%
  • shiba-inuShiba Inu(SHIB)$0.0000152.04%
  • bitcoin-cashBitcoin Cash(BCH)$437.635.60%
  • hedera-hashgraphHedera(HBAR)$0.2025991.17%
  • unus-sed-leoUNUS SED LEO(LEO)$8.86-0.04%
  • the-open-networkToncoin(TON)$3.130.01%
  • polkadotPolkadot(DOT)$4.912.42%
  • litecoinLitecoin(LTC)$99.771.73%
  • moneroMonero(XMR)$392.06-0.86%
  • bitget-tokenBitget Token(BGB)$5.789.96%
  • pepePepe(PEPE)$0.00001510.83%
  • piPi(PI)$0.79-4.78%
  • daiDai(DAI)$1.00-0.01%
  • ethena-usdeEthena USDe(USDE)$1.00-0.06%
  • uniswapUniswap(UNI)$6.421.77%
  • bittensorBittensor(TAO)$458.95-2.84%
  • aaveAave(AAVE)$254.341.11%
  • nearNEAR Protocol(NEAR)$3.033.54%
  • aptosAptos(APT)$5.818.34%
  • ondo-financeOndo(ONDO)$1.011.19%
  • okbOKB(OKB)$52.83-0.29%
  • kaspaKaspa(KAS)$0.114524-0.41%
  • internet-computerInternet Computer(ICP)$5.612.68%
  • ethereum-classicEthereum Classic(ETC)$19.450.44%
  • official-trumpOFFICIAL TRUMP(TRUMP)$13.54-6.39%
  • gatechain-tokenGateToken(GT)$21.930.56%
  • render-tokenRender(RENDER)$5.164.81%
  • crypto-com-chainCronos(CRO)$0.0989160.05%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2494370.54%
  • vechainVeChain(VET)$0.0302161.31%
  • mantleMantle(MNT)$0.761.52%
  • ethenaEthena(ENA)$0.4169882.88%
  • worldcoin-wldWorldcoin(WLD)$1.5321.60%
  • usd1World Liberty Financial USD(USD1)$1.00-0.13%
  • artificial-superintelligence-allianceArtificial Superintelligence Alliance(FET)$0.9010.09%
  • arbitrumArbitrum(ARB)$0.4241670.99%
  • bitcoinBitcoin(BTC)$110,422.60-0.12%
  • ethereumEthereum(ETH)$2,651.881.61%
  • tetherTether USDt(USDT)$1.00-0.02%
  • rippleXRP(XRP)$2.420.78%
  • binancecoinBNB(BNB)$683.320.50%
  • solanaSolana(SOL)$180.372.50%
  • usd-coinUSDC(USDC)$1.00-0.01%
  • dogecoinDogecoin(DOGE)$0.2425701.84%
  • cardanoCardano(ADA)$0.812.40%
  • tronTRON(TRX)$0.2731790.29%
  • suiSui(SUI)$3.82-5.40%
  • hyperliquidHyperliquid(HYPE)$35.0515.09%
  • chainlinkChainlink(LINK)$16.591.94%
  • avalanche-2Avalanche(AVAX)$24.963.88%
  • stellarStellar(XLM)$0.3003471.03%
  • shiba-inuShiba Inu(SHIB)$0.0000152.04%
  • bitcoin-cashBitcoin Cash(BCH)$437.635.60%
  • hedera-hashgraphHedera(HBAR)$0.2025991.17%
  • unus-sed-leoUNUS SED LEO(LEO)$8.86-0.04%
  • the-open-networkToncoin(TON)$3.130.01%
  • polkadotPolkadot(DOT)$4.912.42%
  • litecoinLitecoin(LTC)$99.771.73%
  • moneroMonero(XMR)$392.06-0.86%
  • bitget-tokenBitget Token(BGB)$5.789.96%
  • pepePepe(PEPE)$0.00001510.83%
  • piPi(PI)$0.79-4.78%
  • daiDai(DAI)$1.00-0.01%
  • ethena-usdeEthena USDe(USDE)$1.00-0.06%
  • uniswapUniswap(UNI)$6.421.77%
  • bittensorBittensor(TAO)$458.95-2.84%
  • aaveAave(AAVE)$254.341.11%
  • nearNEAR Protocol(NEAR)$3.033.54%
  • aptosAptos(APT)$5.818.34%
  • ondo-financeOndo(ONDO)$1.011.19%
  • okbOKB(OKB)$52.83-0.29%
  • kaspaKaspa(KAS)$0.114524-0.41%
  • internet-computerInternet Computer(ICP)$5.612.68%
  • ethereum-classicEthereum Classic(ETC)$19.450.44%
  • official-trumpOFFICIAL TRUMP(TRUMP)$13.54-6.39%
  • gatechain-tokenGateToken(GT)$21.930.56%
  • render-tokenRender(RENDER)$5.164.81%
  • crypto-com-chainCronos(CRO)$0.0989160.05%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2494370.54%
  • vechainVeChain(VET)$0.0302161.31%
  • mantleMantle(MNT)$0.761.52%
  • ethenaEthena(ENA)$0.4169882.88%
  • worldcoin-wldWorldcoin(WLD)$1.5321.60%
  • usd1World Liberty Financial USD(USD1)$1.00-0.13%
  • artificial-superintelligence-allianceArtificial Superintelligence Alliance(FET)$0.9010.09%
  • arbitrumArbitrum(ARB)$0.4241670.99%