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Diving Into the Visa Tokenized Asset Platform
Tokenized
Exploring Collaborative Innovations in Fiat-Backed Tokenization
Engagements with global financial institutions reveal varying levels of understanding and conviction regarding tokenization, blockchain, and digital currencies. The collaboration between BBVA and Visa showcases a mutual commitment to not only innovate but also to develop tangible products that leverage existing stablecoins and crypto partnerships. The synergy in their approaches enables the creation of new fiat-backed tokens, drawing on the accumulative expertise of both organizations. Change within large institutions may require time, yet when executed thoughtfully, it can significantly impact markets and industries. A critical distinction exists in defining fiat-backed tokens as compared to existing models, such as USDC and Tether, particularly focusing on underlying mechanisms like money market funds and other financial instruments. This collaborative effort aims to clarify these differences and position their offerings effectively in the market.
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