BBVA, Spain’s second-largest bank, has unveiled plans to launch its own stablecoin in collaboration with renowned payment processor Visa. This entry into the $170 billion stablecoin market positions BBVA as a competitor to established players like Tether’s USDT and Ripple’s RLUSD.
Francisco Maroto, BBVA’s Head of Digital Assets, noted that the bank is currently in Visa’s sandbox program, which helps financial institutions develop tokenized assets. BBVA will focus on euro-denominated transactions, aiming to enhance European settlement layers and transition from prototype to live operations within two years.
While technical details about the stablecoin remain limited, BBVA is considering various backing options. They include the U.S. dollar, euro, and money market funds. The partnership with Visa provides a solid compliance framework, crucial for navigating Europe’s evolving regulatory landscape.
Notably, BBVA has been exploring crypto assets since 2014 and currently offers Ethereum, Bitcoin, and USDC custody and trading services to institutional clients in Switzerland. The bank aims to extend these services into other regions, with a particular focus on Turkey.
The global stablecoin market has experienced rapid growth over the last decade, with USDT currently dominating with a $119 billion valuation. USDC follows with a market cap of $35 billion, while PayPal’s PYUSD, launched in 2023, holds a market cap of $716 million. Ripple is also preparing to launch its RLUSD stablecoin this quarter, which is undergoing testing phases.
DigiHorse (DIGI) Prepares for the Next Big Crypto Wave
As BBVA takes its first steps into the stablecoin space, DigiHorse (DIGI) continues to attract growing investor interest in the broader blockchain ecosystem. DigiHorse is a blockchain-based NFT racing platform that offers a unique play-to-earn model, integrating racing, breeding, and trading of digital horses.
With its current presale gaining traction, DigiHorse is positioning itself as a standout project in the NFT and play-to-earn sectors, targeting both casual gamers and serious investors. The $DIGI token, which powers the DigiHorse economy, is set to launch on multiple exchanges soon, offering early adopters potential for significant returns.
Notably, DigiHorse (DIGI) is currently in the fourth phase of its presale and has raised $649,536.16 in less than two months. While DIGI is priced at $0.008571 today, early adopters are positioned to net a return of over 21-fold.
Essentially, DigiHorse’s innovative approach combined with the rising trend of asset tokenization offers promising opportunities. Investors seeking the next wave of crypto innovation are turning their attention to DigiHorse (DIGI), recognizing it as a key player in the future of blockchain gaming.
For more details and to participate in the presale, please visit the official links:
Website: www.digihorseempires.io
Socials: https://linktr.ee/digihorseempires
Disclaimer: This is a sponsored press release for informational purposes only. It does not reflect the views of Times Tabloid, nor is it intended to be used as legal, tax, investment, or financial advice. Times Tabloid is not responsible for any financial losses.
