**Visa Launches VTAP for Tokenized Assets**

Visa has introduced the Visa Tokenized Asset Platform (VTAP) to simplify the issuance and management of tokenized assets like stablecoins and central bank digital currencies (CBDCs). Launched on October 3, VTAP allows financial institutions to create and test fiat-backed tokens in a secure sandbox environment via the Visa Developer Platform.

Key Features:

- **Programmability**: Automate processes using smart contracts.

- **API Integration**: Simplifies minting, burning, and transferring tokens.

- **Blockchain Framework**: Uses a permissioned blockchain for initial testing.

- **Custody Solutions**: Built-in service for managing private keys.

BBVA, a Spanish bank, is already testing VTAP, exploring its potential benefits. Visa aims to enhance digital transactions by bridging traditional fiat currencies with blockchain technology, offering increased security, speed, and adaptability.