Visa Pilots Its New Crypto API Programme with US Neobank First Boulevard
Visa has announced its partnership with First Boulevard -a digital native Neobank, focusing on creating business opportunity for the black community. This is the first API project of its new suite of crypto APIs and this will help customers to purchase, trade and be in custody of their digital assets. The new API project will be launched later this year, 2021.
The initial pilot programme will see First Boulevard connect to the infrastructure provided by Anchorage, the Visa partner, to enable their customers to trade Bitcoin.
This initial test is seen by Visa team as the first step, in its bid to help customers, integrate and access crypto features into their product offering through APIs. The next step of Visa’s digital currency strategy will be to expand the company’s role as a network-of-networks via the development of its APIs.
Visa will be aiming to explore ways to harness its platform for financial institutions who lack the capacity to develop their own digital currency infrastructure, to tap into the growing blockchain technology and crypto assets.
As part of the agreement, First Boulevard launched a visa debit card that offers digital-first features as well as a Cash Back for Buying Black™ programme, early access to wages with Early Direct Deposit, budgeting tools to improve spending habits and financial education.
Jack Forestell, Chief Product Officer, Visa:
“We’re making effort to make Visa, a bridge between digital crypto assets and our global network of 70 million merchants. Visa is now, the leading network for crypto wallets with 35 crypto platforms using Visa technology, as a medium for transactions.
With this pilot programme, it has offered us the opportunity to extend the value of Visa to financial institution clients and our Neobank for easy deployment of blockchain networks and crypto assets”.
Donald Hawkins, President and Chief Executive Officer, First Boulevard:
“Our mission as a corporate entity is to help black America community build wealth.
We’re pleased to partner with Visa, a leading digital payment network and leverage their crypto APIs as a channel to provide opportunity for the black community to make wealth”.
Visa is planning for more partnerships in an effort to close the financial gap in the black community.
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