Visa Tokenized Asset Platform (VTAP)

Enable blockchain tokenization technology for use by financial institutions to help power new payment solutions

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available for use by

Issuer Banks

Acquirer Banks

Regional Availability

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N. America
Asia-Pacific
Europe
CEMEA
LAC

Pricing

Please contact your Visa Account Executive for details on pricing.

Visa Tokenized Asset Platform (VTAP) is a new Visa product that provides financial institutions the capabilities to issue and manage fiat-backed tokens on blockchain networks.

VTAP provides the tools and infrastructure for banks to tokenize fiat currencies on blockchain networks. Clients can access and test VTAP capabilities through an API layer that connects to blockchain infrastructure and utilizes a Visa-developed standard for issuing fiat-backed tokens. Clients can access VTAP in a nonvalue Sandbox testing phase that can be used for different tokenization use cases.

Key Features

API-based integration

Allows for banks to mint, burn, and transfer fiat-backed tokens in a secure manner. VTAP provides the necessary infrastructure through a single set of APIs for access.

Programmability

VTAP supports Clients to digitize and automate existing workflows, as well as to establish new programmable features for different use cases. VTAP also allows Clients to program permissions into their fiat-backed tokens utilizing smart contracts to govern who can and can’t use the Client token.

Blockchain Infrastructure

VTAP utilizes a permissioned EVM-compatible blockchain for initial testing of use cases to allow for Clients to get comfortable with major functionality. VTAP expects to provide interoperability with additional blockchains based on Client demand.

Custody and Wallets

For ease of Sandbox testing, VTAP offers an integrated custody solution to manage private keys so that Clients can create and manage wallets to execute their use cases. Clients can conduct initial testing inside VTAP sandbox without needing their own wallet or custody infrastructure as prerequisites.

How Does It Work?

Sandbox Capabilities

VTAP is designed to allow Clients the capability to mint, burn, and transfer fiat-backed tokens on a blockchain. During the Sandbox phase, Visa, on behalf of the Client, maintains all blockchain infrastructure. As VTAP moves to real-value phases, Visa expects to collaborate with Clients, taking into account Client requirements, applicable laws and regulations, and industry best practices.

Availability

VTAP Sandbox is available for Clients to test out relevant use cases and value propositions towards commercial readiness. Clients should consult with their Visa Account Executives with further questions. Presently, VTAP is a restricted product with limited availability.

Onboarding

Once Clients have been approved for onboarding to VTAP, they will be provided access to the VTAP APIs, additional reference material on VDP, specifications for integration, as well as tools to assist in testing of the VTAP Sandbox.

APIs Included