Visa to Launch Visa Tokenized Asset Platform on Ethereum Blockchain

Visa has announced the launch of its new Visa Tokenized Asset Platform (VTAP), designed to help financial institutions issue and manage fiat-backed tokens on public and permissioned blockchains. This move aims to integrate traditional finance with blockchain technology, leveraging Visa’s extensive network of over 15,000 financial institutions.

BBVA has been an early participant in the VTAP sandbox, testing core functionalities and exploring the use of fiat-backed tokens on the public Ethereum blockchain. A live pilot is expected to launch in 2025.