BlockBeats news, September 25, according to BlockWroks, Visa has created a new platform to help financial institutions issue fiat-backed tokens and test their use cases. Spain’s Bilbao Vizcaya Bank (BBVA) has been participating in the development of the new Visa Tokenized Asset Platform (VTAP) sandbox this year.

Cuy Sheffield, head of cryptocurrency at Visa, said that as more and more real-world assets (from real estate to debt securities) enter the blockchain, the demand to include more forms of cash for transactions is also growing. We believe this creates an important opportunity for banks to issue their own legal-backed tokens on the blockchain, in a regulated manner, and enable their customers to access and participate in these on-chain capital markets.

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