- Visa’s stablecoin platform, VTAP, will launch in 2025, enabling banks to issue and manage stablecoins and other tokenized assets
- The Visa stablecoin platform will be tested on the Ethereum blockchain, with pilot projects involving select financial institutions
- VTAP aims to enhance banking efficiency by integrating stablecoins and tokenized deposits into traditional financial systems
Visa will launch a platform for issuing stablecoins in 2025 that will allow banks to issue and manage digital assets.
Visa Stablecoin in 2025
The platform will enable banks to issue tokens backed by fiat currency, including stablecoins, and manage digital transactions more efficiently. VTAP will allow banks to mint, burn, and transfer stablecoins and other fiat-backed tokens as part of their digital operations.
Visa has confirmed that the platform is currently in testing, with operations expected to begin next year.
Visa Stablecoin Will be Tested on Ethereum in 2025
The project’s development includes testing VTAP while evaluating the requirements to launch the first live pilot. The Ethereum blockchain will serve as the launchpad in 2025. The pilot will involve a select group of financial institutions for this purpose. The tests will focus on verifying the effectiveness of issuing and transferring tokens at scale.
Initially, VTAP will be used to execute internal banking operations, but Visa plans to enable interoperability among institutions using the platform in the future. The goal of VTAP is clear: it aims to allow banks to manage stablecoins and tokenized deposits within their ecosystems.
This is a key change as it would enable the integration of blockchain technology into traditional financial systems to achieve greater efficiency.
Conclusion
In conclusion, the Visa Tokenized Asset Platform (VTAP) represents a significant step toward integrating stablecoins into traditional banking systems. With the launch expected in 2025 and initial tests on the Ethereum blockchain,
Visa is set to revolutionize digital asset management for financial institutions. This initiative will not only enhance transaction efficiency but could also mark a fundamental shift in how banks operate in the cryptocurrency world.
