Spanish bank BBVA plans to launch stablecoin business in collaboration with Visa next year.

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Odaily Planet Daily News According to Francisco Maroto, the head of digital assets and blockchain at BBVA, the Spanish bank BBVA plans to collaborate with Visa next year to launch its Stable Coin business. The bank is currently in the sandbox phase of Visa's new program, which aims to help enterprises launch their own tokenized assets, with the goal of entering the prototype phase and actual operation by 2025. Francisco Maroto also mentioned that BBVA has not yet decided whether the Stable Coin will be backed by deposits, money market funds, or legal tender such as the euro or dollar, and added that the company plans to use it for settlement in exchanges. (Fortune)

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