Visa is developing a set of APIs for banking and financial institutions. They can provide their clients with services for working with cryptoassets.
Payment card operator Visa and digital bank First Boulevard are preparing to launch a program for bank customers to buy, sell and store cryptocurrencies. First Boulevard’s neobank will be Visa’s first user programmable interface (API). The CEO and President of First Boulevard, Donald Hawkins (Donald Hawkins), believes that bitcoin is a new asset class that can increase the level of human well-being.
Anchorage custodian service will store cryptocurrencies on behalf of Visa customers. Last month in Anchorage, he received a license from the Office of the Comptroller of the United States of America (OCC) for banking activities in the country. This means that client funds will be held in accordance with the requirements of American regulators. In addition, banks allow the withdrawal of cryptocurrencies and their own withdrawal, unlike the PayPal payment system. The launch of the pilot Visa program is scheduled for the end of the year.
“Our strategy is to work with wallets and exchanges, and users can buy cryptocurrencies using their Visa credentials. People should be able to pay with cryptocurrencies wherever Visa is accepted, ”said Visa CEO Alfred Kelly (Alfred Kelly).
Visa’s head of cryptocurrency, Kai Sheffield (Qui Sheffield), compared cryptocurrencies to “digital gold” despite the fact that they are not widely used as a means of payment. Visa Director of Product Development Jack Forestell (Jack Forstell) added that the initiative aims to connect the financial industry with the world of blockchain and cryptocurrencies. In addition to First Boulevard, the payment operator cooperates with CapWay, eatOkra, OneUnited Bank and Urban One.
