On Thursday, Visa Inc. (NYSE:V) announced its new Visa Tokenized Asset Platform (VTAP). It is designed to help financial institutions issue and manage fiat-backed tokens on blockchain networks, bridging existing fiat currencies with blockchain technology. BBVA has been testing core VTAP functionalities this year, including issuing, transferring, and redeeming a bank token on a testnet blockchain. They aim to launch an initial pilot with select customers on the public Ethereum blockchain in 2025. “Visa has been at the forefront of digital payments for nearly sixty years, and with the introducti…
