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Spanish multinational banking giant Banco Bilbao Vizcaya Argentaria (BBVA) is ready to mint a pilot version of its stablecoin on the Ethereum (ETH) blockchain. Visa’s new tokenization platform, VTAP, was chosen as the technological foundation for the innovative product.Visa stablecoin by BBVA to launch on Ethereum in 2025BBVA could become the first world bank to issue its own stablecoin on the Ethereum (ETH) blockchain. According to an official statement, the first phase of the live pilot for select customers is expected to launch on Visa’s tokenization platform as early as 2025.We are excited to introduce Visa Tokenized Asset Platform, a…
BBVA, Spain’s second-largest bank, announced plans to launch a stablecoin in 2025 in partnership with Visa, positioning it to compete in the $172 billion stablecoin market. The move makes BBVA the latest entrant to the increasingly competitive stablecoin market, following in the footsteps of other financial giants such as Ripple and PayPal. Francisco Maroto, head of digital assets at BBVA, said in an interview that the bank is currently in the sandbox phase of Visa’s initiative to help financial institutions develop tokenized assets. BBVA aims to move from prototype to actual operation by 2025. BBVA stablecoin details Specific details about…
Ava Benesocky leads the Canadian Blockchain Consortium, which focuses on education and collaboration to accelerate blockchain adoption across Canada. Ava emphasizes the practical applications of blockchain and works to promote regulation and education for long-term blockchain growth in Canada. In the field of blockchain and cryptocurrencies, Ava Benesocky is one of the leaders with strategic thinking, knowledge, and passion. As CEO of the Canadian Blockchain Consortium (CBC), Ava has been dedicated to guiding Canada’s blockchain ecosystem toward economic development, education, and innovation. Her journey is a testament to resilience, keen knowledge of new technologies, and the will to create a…
There has been some disturbing news coming from the Bitcoin platform. Bitcoin investors are navigating a sea of volatility, with many questioning the stability of this leading cryptocurrency. Amidst this wave, recent Litecoin news shows a positive sign with a significant price increase of over 15%, showing strength even amidst the overall market hesitation. Turning to the pre-sale market, BlockDAG has turned heads with an eye-catching $1 million giveaway, sparking debate among those wondering which cryptocurrencies to buy in 2024. This move by BlockDAG garners attention and creates a quiet buzz of anticipation and speculation about its next big offering.…
Matternet announced today that it has launched a home drone delivery service in Silicon Valley after an initial pilot in August. It utilizes a variant of the Matternet M2 drone delivery platform, which is the only Federal Aviation Administration (FAA) type-certified drone delivery platform in the United States. To ensure package security, we leverage Matternet’s Tether Drop system, which allows operators to drop packages directly at customers’ doorsteps. The entire process is fully automated. The drones are loaded into a central hub, flown to the customer’s home, and safely descended over the customer’s drop zone. Once at the destination, the…
In today’s volatile cryptocurrency market, Bitcoin (BTC) and Ethereum (ETH) are experiencing notable price fluctuations. Bitcoin fell 1.5%, trading around $29,500, while Ethereum also fell 2%, settling at $1,850. These fluctuations occur amid broader market corrections, influenced by various economic indicators and regulatory updates. Investors are closely monitoring the Federal Reserve’s monetary policy decisions, which could further impact the valuation of cryptocurrencies. Furthermore, altcoins such as Ripple (XRP) and Litecoin (LTC) are also showing major changes. Ripple fell 3% to trade at $0.60, while Litecoin fell 2.5% to $90. Market analysts have suggested that the move could be the result…
advertisement Pekao SA, Poland’s second largest bank, is proud to launch the Archiv3 project on the Aleph Zero blockchain, which aims to tokenize and preserve Poland’s cultural heritage. Archiv3 was launched in partnership with Aleph Zero and Degen House, a layer 1 blockchain platform known for its speed, data privacy, and ease of development. Archiv3 will use the Aleph Zero blockchain to tokenize Polish cultural heritage and securely store digital copies in the Arctic World Archive (AWA), also known as the “Doomsday Library.” Pekao Bank hopes that this initiative will ensure the cultural significance of the masterpiece and serve as…
In a major development in the blockchain industry, G6 Networks announced a strategic partnership with Brazilian technology company C9 Tech. The partnership aims to strengthen distributed ledger technology (DLT) infrastructure across Brazilian financial and public institutions. G6 Networks introduces a revolutionary blockchain ecosystem that promises scalability, security, and ease of implementation, delivering the benefits of immutable data and seamless communication while maintaining privacy. This partnership will have a major impact on Brazilian financial institutions, from large banks to small and medium-sized enterprises. G6 Networks plans to provide managed blockchain solutions that address the country’s growing need for a transparent and…
Visa has introduced a new product aimed at helping financial institutions issue fiat-backed tokens on blockchain networks. Officially launched on October 3, the Visa Tokenized Asset Platform (VTAP) is now accessible through Visa’s development platform. The platform provides Visa’s banking partners the ability to experiment with fiat-backed tokens in the VTAP sandbox, allowing them to explore blockchain applications within a secure test environment. Visa’s announcement highlights that the VTAP platform leverages the company’s long-standing expertise in emerging technologies such as digital payments and smart contracts. This technology foundation will enable banks to seamlessly issue and transfer fiat-backed tokens on blockchain…
BBVA is the latest financial giant to enter the crowded field of stablecoins, with the Spanish bank set to launch its own digital asset next year with support from Visa. Francisco Maroto, head of digital assets and blockchain at BBVA, said in an interview with Fortune that the bank is currently in the sandbox phase of its new Visa program to help companies launch their own tokenized assets. He said he hopes to reach the prototype stage and actual operations by 2025. . Maroto said BBVA has not yet decided whether the stablecoin will be backed by deposits, money market…