Payment giant Visa this Wednesday announced a plan to launch its own set of application programming interfaces (APIs) for buying cryptocurrencies, thanks to which banks will be able to offer customers Bitcoin-related services.
The first user of the API will be First Boulevard, an African-American digital bank. With the backing of Visa, he hopes to introduce bitcoin to his customers in order to reduce economic inequality and create passive sources of income for them.
Clearinghouse Anchorage, which last month became the first national “digital asset bank” in the US, will store bitcoins and other cryptocurrencies for Visa customers. As Forbes notes, it is assumed that the cryptocurrency purchased in this way can be withdrawn to the wallet for self-storage. This will be an important difference between the Visa service and the one offered by PayPal, whose users are limited to operations with cryptocurrency within the company’s application.
“The Visa Crypto APIs pilot program will allow users to easily connect to the infrastructure provided by Visa partner Anchorage so that their customers can buy and sell digital assets such as Bitcoin as an investment,” the company said.
Visa has previously worked with cryptocurrency companies, having partnered with 35 of them to date to help them issue payment cards and other opportunities. Nevertheless, today it became known for the first time about Visa’s cooperation with banks in this area.
Visa CEO Alfred Kelly said last week that they view bitcoin as “digital gold,” noting that cryptocurrencies are not widely used as a means of payment.
“Our strategy here is to work with wallets and exchanges so that users can buy these currencies or withdraw them into traditional currencies to make fiat purchases at any of the 70 million Visa-served merchants around the world using data in our system, ” he said . separately highlighting stablecoins. “Some digital currencies are becoming so accepted as a means of payment that there is no reason why we could not add them to our network, which already supports over 160 currencies today.”