Visa Launches Platform for Tokenized Assets and Smart Contracts

Visa's new platform aims to help banks issue fiat-backed tokens and integrate blockchain technologies.

Visa has introduced the Visa Tokenized Asset Platform (VTAP) to facilitate the issuance and management of digital assets by financial institutions.
VTAP is designed to support a wide range of tokenized assets, including real-world assets like real estate and commodities, using blockchain technology.
Banco Bilbao Vizcaya Argentaria (BBVA) is among the first banks testing VTAP, planning a pilot on the Ethereum blockchain in 2025.
Visa aims to enhance transaction efficiency, security, and interoperability across different blockchain networks with VTAP.
The platform allows banks to use smart contracts to automate processes and enable near-real-time settlement of tokenized assets.