Visa, Anchorage to help banks offer crypto services

The Visa Crypto APIs pilot program will let clients connect into the infrastructure provided by Visa’s partner, Anchorage, a federally chartered digital asset bank, to allow their customers to buy and sell digital assets such as Bitcoin as an investment within their existing consumer experiences.

Visa envisions a product set that extends to other cryptocurrencies and stablecoins as well as other crypto services such as trading. Digital bank First Boulevard is the first bank involved in the pilot; Visa has issued a wait list for other banks.

Previously, Visa had been focused on helping crypto companies issue bank cards and has partnered with 35 crypto firms to date, but this is the first time the company has offered crypto services to banks.

Visa’s news also comes after Anchorage became an OCC-approved national crypto bank, although Visa had been working on this product with Anchorage and regulators long before the custodian’s charter was granted.