Visa is working on API that will allow any bank to build a crypto offering
Visa launches crypto offering for partner banks. (Photo: Shutterstock)
No time right now?
Credit card company Visa plans to help banks start trading Bitcoin and other cryptocurrencies. For this purpose, Visa wants to launch software with API access.
Visa wants one later this year Start the software program, with the support of which every institutional customer of the company will be able to integrate crypto buying and trading services into their own customer offering.
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Visa API brings cryptocurrencies to every bank
Banks could soon enable their customers to handle Bitcoin and other crypto currencies in an uncomplicated manner. Early-stage investor Anthony Pompliano reports on Twitter in a nutshell and Forbes with more depth.
Visa is launching an API that will allow every bank customer to offer Bitcoin through their existing services.
The API is in partnership with Anchorage.
Game changer.
– Pomp 🌪 (@APompliano) February 3, 2021
For the pilot operation of the API, Visa has secured a partnership with First Boulevard – a bank that focuses particularly on an African American clientele. The collaboration will first allow this bank’s customers to buy and trade cryptocurrencies and digital assets through a “suite of new crypto APIs”.
The digital bank Anchorage will be the second partner to take over the custody of the crypto assets for the customers. There is a connection between the partner bank and Anchorage via the Visa API. A robust and safe infrastructure will then be developed on the basis of the findings from the pilot operation. US banks that are also interested in early participation can contact Visa on a kind of waiting list let sit.
Visa sees Bitcoin and others as digital gold
Only a few days ago, Visa boss Alfred Kelly made it clear that the credit card company is serious about its crypto engagement. His company sees all crypto currencies as “digital gold”. However, most of them would still be held as assets that were not used in any significant way as cash at the time. The new Visa API can change that.
However, quite a few market insiders doubt whether Bitcoin of all things will become a real means of payment.
