INTRODUCING | VISA Launches Platform for Banks to Tokenize Fiat-Backed Tokens

BitKE · 2026-03-14T22:00:21+00:00

VISA has launched the VISA Tokenized Asset Platform (VTAP), enabling banks to issue and manage fiat-backed tokens on blockchains. The platform offers a sandbox for development, supports minting and transferring tokens, and aims for interoperability across blockchains.

BitKE

2026-03-14 22:00:21

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VISA has announced the launch of the VISA Tokenized Asset Platform ( VTAP), a new product designed to help financial institutions issue and manage fiat-backed tokens on blockchain networks.

As reported by BitKE, VISA, which recently revealed that its VISA tokens have generated more than $40 billion in incremental ecommerce revenue for businesses globally, says the new platform is designed to help financial institutions issue and manage fiat-backed tokens on blockchain networks.

The VTAP solution is available on the VISA Developer Platform for participating financial institution partners to create and experiment with their own fiat-backed tokens in a VTAP sandbox, said VISA.

“VISA has a global network of more than 15,000 financial institutions and helps facilitate seamless transactions of fiat currencies across more than 200 countries and territories,” said VISA.

“Now, VISA is applying its expertise in new technologies, such as smart contracts, to enable banks to issue and transfer fiat-backed tokens over blockchain networks.”

Developed by VISA’s in-house blockchain experts, VTAP is a B2B solution designed to enable banks to bring fiat currencies onchain in a safe, seamless, and efficient manner.

It is easy to integrate the system and users can implement additional functionality depending on their operational workflows.

VTAP also provides a platform for banks to mint, burn, and transfer fiat-backed tokens, such as tokenized deposits and stablecoins, and experiment with use cases. This is available in a test environment with plans to support live programs in 2025 and when participating banks are ready to launch with end customers.

Participating banks can access the complete suite of VTAP services via APIs designed to help enhance existing financial infrastructure to be always on and more efficient.

The platform is designed to enable banks to use their fiat-backed tokens within smart contracts, allowing room for programmable use-cases.

VISA says its vision is to enable interoperability across different blockchains for banks utilizing the VTAP platform.

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