Visa to start pilot so bank customers can buy, hold, trade digital assets

Visa (V) jumps into the crypto space by launching a pilot program that will provide banks with crypto APIs so their customers to purchase, hold, and trade digital assets.First Boulevard, a digitally native neobank, signs up as the first for the program, which is anticipated to start later this year.Visa follows fintechs such as PayPal and Square in launching crypto services with the potential of making Bitcoin a currency that consumers can use for purchases.As part of the initial pilot program, Visa plans to enable First Boulevard to connect to infrastructure provided by Visa’s partner, Anchorage, a federally chartered digital asset bank, to allow their customers to buy and sell bitcoin.Visa rises 0.5% in premarket trading.The pilot will serve as a key step in supporting API capabilities that help additional Visa clients access and integrate crypto features into their product offering.The crypto APIs mark the next phase in Visa's digital currency strategy, focused on expanding its