Visa Launches Visa Tokenized Asset Platform (VTAP) To Help Banks Issue Fiat-Backed Tokens; BBVA To Use VTAP For Token Creation On Public Ethereum Blockchain; Live Pilots Expected In 2025; VTAP Available On Visa Developer Platform For Financial Institutions To Experiment In Sandbox Environment
Portfolio Pulse from Benzinga Newsdesk
Visa has introduced the Visa Tokenized Asset Platform (VTAP) to assist banks in issuing fiat-backed tokens. BBVA will utilize VTAP for token creation on the Ethereum blockchain, with live pilots anticipated in 2025. VTAP is accessible on the Visa Developer Platform for financial institutions to experiment in a sandbox environment.
October 03, 2024 | 12:08 pm
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Visa has launched the Visa Tokenized Asset Platform (VTAP) to enable banks to issue fiat-backed tokens. BBVA will use VTAP for token creation on the Ethereum blockchain, with live pilots expected in 2025.
Visa's launch of VTAP positions it as a leader in blockchain-based financial services, potentially increasing its market share and revenue. The partnership with BBVA and the use of Ethereum blockchain highlight Visa's commitment to innovation, likely boosting investor confidence.
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