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Visa Launches New Tokenized Asset Platform for Banks
- Visa has launched a new tokenized asset platform called VTAP for banks.
- The platform allows banks to create tokens representing real-world assets backed by fiat currency.
- Spanish bank BBVA is the first financial institution to use the platform.
- VTAP aims to streamline and reduce the cost of financial operations, including instant peer-to-peer transfers and cross-border transactions.
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