BBVA, in collaboration with Visa, will use the VTAP platform to introduce a stablecoin on Ethereum in 2025.

Visa and BBVA Team Up for Tokenization on Ethereum

In 2025, BBVA will launch a stablecoin on Ethereum in collaboration with Visa. The bank will use the Visa Tokenized Asset Platform (VTAP), a solution that simplifies the adoption of blockchain in financial services. Visa has made it clear that its goal is to make blockchain easier to integrate into banks' daily operations.

BBVA tested the platform in a controlled environment, called Sandbox, in 2024, verifying the effectiveness of the stablecoin in the issuance, transfer and redemption phases. The Spanish bank sees great potential in smart contract technology to improve payment processes, making them more efficient.

According to Vanessa Colella, Global Head of Innovation at Visa, tokenization is a fundamental key to helping banks enter the world of blockchain without compromising their operations.

BBVA and Crypto Expansion in Switzerland

Meanwhile, BBVA has already made progress in the crypto sector in Switzerland with the integration of USD Coin (USDC). This stablecoin, linked to the US dollar, was introduced to offer institutional clients protection against the volatility of the crypto market. In addition to storing USDC, clients can also exchange and convert it automatically into other fiat currencies.

With this strategy, BBVA positions itself among the few European banks that adopt regulated crypto solutions, thus offering security and easy access to the infrastructure for its clients.