The firm aims to prioritize its partners such as First Boulevard when it comes to access to new technologies
Visa teams up with neobank to trial crypto API program. Source: pexels.com
Visa has partnered with First Boulevard, a neobank that focuses on wealth generation for the Black community. The bank will be the first to use Visa’s crypto APIs. With this, customers can trade, have custody and purchase digital assets controlled by Anchorage.
This will be an initial step in the support of API capabilities that will help more Visa customers integrate and access crypto features into their other product offerings.
The development marks Visa’s subsequent phase in its digital currency strategy. In the initial test and learn phase, Visa will look into ways in which financial institutions that do not own digital currency infrastructure can use Visa’s platform to expand blockchain networks and crypto-assets.
Through the partnership, First Boulevard will launch a First Boulevard Visa Debit card. The Boulevard card will offer digital features including early direct deposits, early access to wages, financial literacy education, a Cash Back for Buying Black Program, and budgeting tools. Visa will work with the bank in the provision of educational materials and resources. This will make technologies and asset classes more accessible to the communities.
Visa will also enable First Boulevard to access technology provided by Anchorage, a move that will enable customers to sell and buy Bitcoin.
We’ve reported that TransferWise and Visa announced a global partnership.
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