The director of the Financial System Supervisory Authority (ASFI) of Bolivia, Ivette Espinoza, announced last week the entry into force of regulations for financial technology platforms and those linked to digital assets.

The regulations, approved by ASFI, were implemented on Tuesday, July 8, representing “an important moment in the modernization of the Bolivian financial system.”

The regulations outline the requirements and procedures for the “establishment and operation of so-called Financial Technology Companies (FTCs), including those operating in cryptocurrency, digital payments, remittances, and electronic loans.”

According to Espinoza, Resolution 540/2025 gives effect to the Supreme Decree enacted last May, which introduces concepts such as tokenized assets and blockchain technology, previously absent from Bolivian financial legislation.

The objective of this measure is to consolidate “a modern, inclusive, and regulated financial ecosystem that allows both public and private providers to enter the technological field with legal certainty.” The regulations apply to companies incorporated in the South American nation, as well as to foreign companies operating through partnerships with local entities.

M.Pino

Source: xinhua

(Reference image source: Sasun Bughdaryan n Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on X/Twitter and Instagram

La entrada Bolivia implements regulations on financial technology platforms and virtual assets apareció primero en Bitfinance.

Spanish bank BBVA announced that it is working on its own stablecoin with the support of credit card issuer Visa.

According to Francisco Maroto, head of digital assets and blockchain, the bank is ready to join the stablecoin market, although it is not yet known “if the asset will be backed by deposits, market funds or fiat currencies.”

BBVA is in the testing or sandbox phase, “within a Visa program designed to facilitate the creation of tokenized assets, called Visa Tokenized Asset Platform (VTAP).”

The bank plans to move towards the prototype stage to begin live operations in 2025. At the moment, it has not been announced whether the stablecoin will be backed by “bank deposits, money market funds or fiat currencies such as the euro or the US dollar.”

According to Maroto, the goal of BBVA’s stablecoin is to be used in the settlement layer of cryptocurrency exchanges. “We realized that blockchain technology can revolutionize the way we exchange value digitally and, consequently, change the way the financial system works,” the official told Fortune.

Regarding the decision to partner with Visa, he highlighted that they evaluated the company’s prestige and its adherence to European regulations, alluding to the MiCA Law.

Moroto hinted at the possibility of BBVA launching its own euro-based stablecoin, thanks to its extensive presence in Europe, and that it be used in “settlement in markets that offer tokenized assets, with BBVA managing the minting and burning processes to integrate these ecosystems.”

It is important to remember that the Spanish bank already offers custody and marketing services for “bitcoin, ether (ETH) and USD Coin (USDC) in Switzerland for private and institutional banking clients, and is currently seeking to expand into Turkey.”

M.Pino

Source: iProup

(Reference image source: Michael Förtsch in Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada BBVA to join stablecoin market in partnership with Visa apareció primero en Bitfinance.

The company Superstate, specialized in tokenized assets in the United States, launched the USTB fund for a select group of investors previously authorized by the SEC.

The fund will invest in short-term US Treasury bonds, charging a management fee of 15 basis points.

From Superstate they have indicated that investors will have the opportunity to “self-custody their USTB in an address of their choice.” In addition, they will have complete freedom to “use different security implementations, such as multi-signature wallets or multi-party computing (MPC), or traditional externally owned accounts (EOA) to protect assets.”

The USTB fund will become part of a competitive market for tokenized securities, where USD 862 million of Treasury securities have already been tokenized through various projects.

In information related to the launch of this fund, it was learned that other options for custody will be the federally authorized bank Anchorage Digital, as well as BitGo, which offers asset management solutions in addition to storage.

M.Pino

Source: cripto247

(Reference image source: Shubham Dhage at Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada USTB fund of tokenized assets launched in the United States apareció primero en Bitfinance.