Visa’s VTAP lets banks easily create and manage fiat-backed tokens, enhancing their services with blockchain technology. The platform’s focus on smart contracts allows banks to automate processes, making transactions faster and more efficient. Visa’s collaboration with BBVA demonstrates the company’s dedication to banking innovation, including pushing the frontiers of tokenization. Visa has launched the Visa…
Visa recently launched the Visa Tokenized Asset Platform (VTAP) to help banks issue fiat-backed tokens on blockchain networks. Using the platform, it is possible to mint, burn, and transfer fiat-backed tokens through financial institutions. Live pilots on the public Ethereum blockchain will happen in 2025 as BBVA tests VTAP. Visa Introduces Fiat-Backed Token Platform for…
Visa has launched the Visa Tokenized Asset Platform (VTAP), a new initiative to help banks issue fiat-backed tokens on blockchain networks. On Oct. 3, the digital payment giant announced that VTAP is now accessible through its Developer Platform. This enables participating institutions to develop and test digital assets like stablecoins and Central Bank Digital Currencies…
Payment company Visa (V) has created a new offering to assist banks in issuing tokens backed by currency on the Ethereum network. According to an official statement, the Visa Tokenized Asset Platform (VTAP) will enable fiat-backed tokens driven by smart contracts. This will assist in digitizing and automating current procedures and enabling the exchange of…