Visa Introduces Tokenized Asset Platform for Blockchain-Based Financial Services

Visa has launched the Visa Tokenized Asset Platform (VTAP), a new product designed to help banks issue fiat-backed tokens on the Ethereum blockchain. This platform aims to digitize and automate the trading of real-world assets, such as commodities and bonds, using smart contracts. VTAP provides financial institutions with the tools and infrastructure needed to tokenize fiat currencies, enhancing transaction speed and security. One of the first banks to use this platform will be Spain’s BBVA, which plans to roll out a live pilot in 2025.

Source : Bitcoin News - Sep 26, 2024