Catherine Gu leads CBDC and Tokenized Assets at Visa, and Francisco Maroto heads Blockchain and Digital Assets at BBVA. They discuss the Visa Tokenized Asset Platform, which allows banks to issue fiat-backed tokens using smart contracts. The conversation highlights BBVA's tokenization journey and the importance of banks engaging with blockchain technology. They explore the possibility of programmable finance, cross-border transactions, and the collaborative efforts between traditional banks and DeFi, all while addressing regulatory challenges in this evolving landscape.