Japanese payment provider TIS collaborates with Ava Labs to launch a multi-token platform

BlockBeats News, October 28th, according to CoinDesk, one of Japan's largest payment infrastructure providers, TIS, is collaborating with Ava Labs (the team behind Avalanche) to launch a blockchain-based platform as the demand from financial institutions for on-chain transfer of funds and assets is increasing.

The company's newly launched multi-token platform is built on AvaCloud (Avalanche's enterprise-focused blockchain building tool) and is designed to support the issuance, settlement, and management of digital assets such as stablecoins and tokenized assets in accordance with Japan's Payment Services Act.

TIS will lead the project and has stated plans to collaborate with banks, enterprises, and public institutions to drive the platform's adoption on a global scale.