Spanish bank BBVA plans to launch its own stablecoin in 2025. The project is supported by Visa, and the bank is currently in the testing phase as part of Visa's new program designed to support the issuance of tokenized assets. According to BBVA's head of digital assets and blockchain, Francisco Maroto, the bank intends to move to a prototype after testing and launch the digital asset in 2025.
The project aims to leverage asset tokenization trends such as real estate and private credit funds. BBVA's stablecoin will likely be pegged to the euro and is intended for settlements on tokenized asset exchanges. The bank will oversee the issuance and destruction of tokens during the conversion of fiat into crypto ecosystems.
BBVA chose Visa as a partner due to the brand's reputation and compliance with regulatory requirements.
