According to Odaily, Visa has announced the launch of its Tokenized Asset Platform (VTAP), designed to assist banks in issuing fiat-based tokens. The VTAP solution is now available on the Visa Developer Platform for participating financial institution partners.

In related news, Spanish bank BBVA plans to collaborate with Visa next year to introduce a stablecoin business. Francisco Maroto, BBVA's Head of Digital Assets and Blockchain, stated that the bank is currently in the sandbox phase of Visa's new initiative.