VTAP allows banks to leverage blockchain technology to streamline and automate traditional processes. It reduces settlement times and offers the potential for more efficient handling of asset exchanges, especially for commodities and bonds.
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You can play the BIRDS egg-breaking game every thirty minutes, gaining one additional turn each time, up to a maximum of ten turns. Make sure to use your turns regularly to maximize your $BIRDS earnings.
Banks using VTAP will be able to purchase tokenized real-world assets (RWAs) such as commodities or bonds. These transactions will benefit from near-real-time settlement facilitated by the fiat-backed tokens.
One of the first financial institutions to use VTAP will be the Spanish bank BBVA, which plans to launch a live pilot in 2025.
Ethereum serves as the blockchain platform on which the fiat-backed tokens will be issued. Through Ethereumโs smart contract functionality, VTAP will enable automated and secure transactions involving tokenized real-world assets.
Fiat-backed tokens are digital tokens that are pegged to traditional currencies (fiat), such as USD or EUR. These tokens represent the value of the currency and can be used for transactions or exchanges on blockchain platforms like Ethereum.
VTAP is a new product developed by Visa that helps banks issue fiat-backed tokens on the Ethereum network. It aims to digitize and automate existing processes through smart contracts, enabling the exchange of real-world assets (RWAs).
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