Visa launches platform for banks to explore tokenisation

The initiative aims to integrate fiat-backed tokens into blockchain systems, providing regulated solutions for banks to issue their tokens and engage in on-chain capital markets.
Rain has secured $24.5 million in funding to expand its stablecoin-based payment infrastructure, boosting global adoption and enhancing interoperability with traditional financial systems.

Visa has launched a new platform to help banks test tokenized assets and smart contracts, marking a significant step in its growing involvement in the digital asset sector. The payment giant’s tokenised asset sandbox has already been trialled by Spain’s Banco Bilbao Vizcaya Argentaria, to guide banks in navigating the evolving financial landscape. Visa’s initiative is part of a broader push to integrate fiat-backed tokens into the blockchain, offering regulated solutions for banks to issue their tokens and engage in on-chain capital markets.

Cuy Sheffield, Visa’s Head of Crypto, highlighted the growing opportunity for banks as real-world assets become tokenised on blockchains. He stressed that a regulated approach is essential, ensuring customers can access these digital markets safely. Visa’s move aligns with trends in traditional finance, where firms like BlackRock see immense potential in tokenising financial assets, a development that could revolutionise the industry. Central Banks are also exploring how tokenisation can modernise finance, with Visa playing a key role in advancing this transition.