Banks using VTAP will be able to purchase tokenized real-world assets (RWAs) such as commodities or bonds. These transactions will benefit from near-real-time settlement facilitated by the fiat-backed tokens.
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One of the first financial institutions to use VTAP will be the Spanish bank BBVA, which plans to launch a live pilot in 2025.
Ethereum serves as the blockchain platform on which the fiat-backed tokens will be issued. Through Ethereumβs smart contract functionality, VTAP will enable automated and secure transactions involving tokenized real-world assets.
Fiat-backed tokens are digital tokens that are pegged to traditional currencies (fiat), such as USD or EUR. These tokens represent the value of the currency and can be used for transactions or exchanges on blockchain platforms like Ethereum.
VTAP is a new product developed by Visa that helps banks issue fiat-backed tokens on the Ethereum network. It aims to digitize and automate existing processes through smart contracts, enabling the exchange of real-world assets (RWAs).
To start using the BIRDS Mini App, follow these steps:Click on the Mini-App Link: Begin by clicking on the provided mini-app link to access the BIRDS Mini App: BIRDS Mini App Link. Access the Mini-App: The link will ...Read more
If you don’t upgrade your BIRDS egg, it will remain at its current level and will not hatch into a bird. This means you won’t be able to maximize your potential rewards or fully engage with the BIRDS ...Read more
Upgrading your BIRDS egg is essential to progress within the ecosystem. Each upgrade brings you closer to hatching the egg into a bird, which then enables you to earn more rewards and fully participate in the BIRDS experience.
You can invite friends through the BIRDS mini-app or by sharing your referral link. By doing so, you not only help others start their BIRDS journey but also earn additional $BIRDS and increase your Time Boost.
Your BIRDS egg will hatch once you reach level 21. Until then, keep upgrading the egg with $BIRDS to reach the hatching stage. The hatched bird will help you earn more rewards.