Visa Launches a Platform to Manage Tokenized Digital Assets

Visa has recently announced the launch of its new Visa Tokenized Asset Platform (VTAP), a digital asset management system.

The platform was revealed on October 3 and aims to support various tokenized assets such as stablecoins and central bank digital currencies (CBDCs).

Currently in the testing phase, the platform has Banco Bilbao Vizcaya Argentaria (BBVA) as one of its participants, trying out its core functionalities.

Targeting institutional investors and central banks, the VTAP offers end-to-end infrastructure for secure minting, transfer, and settlement of digital assets on both public and permissioned blockchains.

Vanessa Colella, global head of innovation and digital partnerships at Visa, expressed enthusiasm for the platform, stating that they hope to utilize their expertise in tokenization to help banks integrate blockchain technology into their operations.