**Visa Unveils New Tokenized Asset Platform**

Visa has just rolled out its Visa Tokenized Asset Platform (VTAP), a groundbreaking service aimed at issuing and managing fiat-backed tokens. Announced on October 3, VTAP is designed to support a variety of tokenized assets, including stablecoins and central bank digital currencies (CBDCs).

The platform targets institutional investors and central banks, providing a secure infrastructure for minting, transferring, and settling digital assets on both public and permissioned blockchains. Vanessa Colella, Visa's global head of innovation, highlighted the company's excitement to help banks integrate blockchain technology.

Currently in its sandbox phase, VTAP is being tested by participants like Banco Bilbao Vizcaya Argentaria (BBVA). The platform is expected to launch a live pilot phase with select customers in 2025 on the public Ethereum blockchain.

Stay tuned for more updates on this developing story.