Visa Piloting a Service for Bank Customers to Easily Trade Bitcoin and Crypto
Furthering their crypto ambitions, Visa, the world's largest payment processor, is nowpilotinga service that will allow ordinary bank clients to buy and sell cryptocurrencies like Bitcoin. In a partnership with Anchorage, Visa is trialing a suite of APIs that will enable their clients to plug into Anchorage's network and trade cryptocurrencies. Notably, Anchorage has a federal banking charter and is Visa's partner. On the other hand, First Boulevard—a digital bank, is the first to participate in the trial. However, there is currently a waitlist for other banks who wish to partake and enhance their customers' experience.
Undoubtedly, cryptocurrencies like Bitcoin and Ethereum have been top performers year-to-date. By posting average gains above 400 percent in the last 12 months, cryptos' ultra-high yields attract mainstream players. They are now gravitating to these public networks, eager to tap on coin’s superior yields. Visa's partnership with Anchorage--and subsequent trials with First Boulevard, therefore, offers a way for ordinary, non-tech bank clients to trade cryptocurrencies, confident that their coins are in good hands.
Impact on the BTC Price:
Bullish. Overly, the Visa announcement isa massive boost for Bitcoin and crypto. Digital assets presently appear to be bottoming up from late January 2021 lulls. The more BTC and crypto is adopted, the deeper BTC's liquidity becomes, and the more stable prices are in the long haul.
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