Digital payments' provider Visa Inc. has announced a partnership with First Boulevard, a digital neobank focused on the Black community. According to a press release, First Boulevard will get access to Visa’s crypto APIs so that users will be able to buy, store and trade cryptocurrencies with Visa's partner Anchorage, a cryptocurrency bank.
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The support for cryptocurrency services will be added to First Boulevard later this year.
"The pilot will serve as a key first step in supporting API capabilities that help additional Visa clients access and integrate crypto features into their product offering, and is anticipated to launch later this year," Visa said in the press release.
Visa notes it will explore different ways in simplifying access to the market to financial institutions to fasten the growing world of crypto assets and blockchain networks. Visa's Chief Product Officer, Jack Forestell, says the company plans to bridge cryptocurrencies and its global network of 70 million merchants with the help of its network for crypto wallets.
"With this pilot program, we want to extend the value of Visa to our neobank and financial institution clients by providing an easy bridge to crypto assets and blockchain networks," Forestell added.
Earlier in January, Visa announced it will focus on cryptocurrency adoption as it considers digital assets, like bitcoin (EXANTE: Bitcoin), as "digital gold." Visa CEO, Alfred Kelly, pointed out that stablecoins or central bank digital currencies (CBDCs) could have the potential "to be used for global commerce."
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