Visa is going to introduce a system that’ll allow banks to integrate crypto features. Once enabled, banks can offer a number of cryptocurrency services to their customers, like buying, trading, and custody of bitcoin using Visa’s crypto APIs (application programming interfaces).
The first firm to join the pilot would be First Boulevard, a digital bank currently building tools to help the Black community.
Donald Hawkins, president and CEO of the digital bank said, ” We are thrilled to partner with the leader in digital payments, Visa, and leverage their crypto APIs to provide another channel for the Black community to access crypto as a new asset class that can help build Black wealth.”
Visa has been bullish about crypto for quite some time now and had recently partnered with 35 crypto firms.
Al Kelly, CEO, Visa during an earnings call last week said, “It goes without saying to the extent a specific digital currency becomes a recognized means of exchange, there’s no reason why we cannot add it to our network, which already supports over 160 currencies today.”
Visa’s love for crypto is nothing new. It may be recalled that way back in 2019 Visa had announced a debit card in partnership with Coinbase that would allow users to buy things using fiat money converted from cryptocurrency stored in online wallets.