10/03/2024
Visa Introduces a Platform to Assist Banks in Issuing Stablecoins Worldwide
A platform enabling banks to generate fiat-backed tokens, such tokenized deposits and stablecoins, is being launched by Visa Inc. as more companies and financial institutions show interest in the ways that blockchain technology and cryptocurrencies may enhance their operations.
Banks will be able to "mint, burn, and transfer" tokens thanks to the product, which will be referred to as the Visa Tokenized Asset Platform, or VTAP. The goal is to go live the next year, while testing is still ongoing, a statement released on Thursday stated.