Visa, Anchorage, and First Boulevard Bank to Launch Crypto APIs Pilot

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Global payments giant Visa, Anchorage, a San Francisco-based blockchain that provides security services against digital assets held by institutional investors, and Kansas-based digital bank First Boulevard are working in partnership to launch a pilot of a new set of crypto-related APIs.

According to a blog post by Anchorage on Thursday, February 4, this crypto API pilot will enable banks, neobanks, and other financial institutions to easily and securely integrate digital asset products into their own offerings.

According to the details of this project, the pilot will be a Visa crypto software program that will allow banks and financial institutions to offer Bitcoin and cryptocurrency buying and trading services on their platform just by plugging into this software. Clients will be able to maintain their own unique user experiences on the front end, while securely tapping into the digital asset ecosystem on the back end.

Payment Anchorage, visa.

Crytpo custodian Anchorage, that last month, as reported, became the first US national digital asset bank after it was granted approval for a national trust charter from the US Office of the Comptroller of the Currency (OCC), will hold the bitcoin and cryptocurrencies on behalf of Visa’s clients.

First Boulevard bank will pilot the crypto APIs and its clients will be able to buy, hold, and sell digital assets held in Anchorage Digital Bank.

The pilot is anticipated to launch later this year. According to Anchorage, as the demand for crypto services is growing, the industry lacks plug-and-play tools that institutions need to provide those services. Through this pilot, entities involved will explore ways to lower the barrier to entry for institutions looking to provide digital asset services to their customers.

Diogo Mónica, President and Co-Founder of Anchorage, said:

“This pilot program is a significant step forward both for the proliferation of crypto as an asset class and for accessibility and inclusion in payments and financial services. We’re thrilled to be working alongside Visa and First Boulevard to build the infrastructure for a more secure and equitable financial future, and proud to offer institutions easy, secure solutions for enabling crypto products and services.”

The relationship between Anchorage and Visa is not new. As Crypto Economy reported, Visa was a major contributor to the Anchorage Series B funding round which was led by Blockchain Capital in July of 2019. Anchorage is still a member of the Libra Association while Visa distanced itself from the association in October of 2019.

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