08:46 AM EDT, 10/03/2024 (MT Newswires) -- Visa (V) said Thursday it has launched a tokenized asset platform to help financial firms issue and manage fiat-based tokens on blockchain networks.

The platform is available to Visa's network of 15,000 partners on its developer platform. It will allow banks to mint and transfer fiat-backed digital currencies such as stablecoins.

The company said Spanish bank BBVA has already started experimenting with the platform and will launch a pilot token for a group of customers on the Ethereum blockchain next year.

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