Visa (V) has unveiled the Visa Commercial Solutions Hub, a new ecosystem designed for commercial payments. This platform grants financial institutions and businesses access to an extensive array of commercial payment solutions, alongside additional capabilities and integration with various fintech services. The Visa Commercial Solutions Hub is entering its initial pilot phase this month, concentrating on enhancing and broadening the B2B Payables experience.
In a separate announcement, Visa introduced the Visa Tokenized Asset Platform, which aims to bridge existing fiat currencies with blockchain technology. This new product is crafted to assist financial institutions in issuing and managing fiat-backed tokens on blockchain networks. Devised by Visa’s in-house blockchain specialists, VTAP is an advanced solution tailored for business-to-business applications. It empowers banks to bring fiat currencies onto blockchain networks in a secure, seamless, and efficient manner.
