Visa is testing a suite of banking services for cryptocurrency transactions

Visa has announced the start of testing an experimental set of application programming interfaces (APIs) that allow banks to offer services based on cryptocurrencies.

As part of a pilot project, the payment giantTogether with the digital bank First Boulevard, they are already testing a set of tools with which customers can easily work with digital assets. Other financial institutions have also expressed interest in the program and are awaiting approval to participate.

According to Visa representatives, in the future, new services will not only allowbuy and sell cryptocurrencies and stablecoins,but also do other digital asset transactions. For example, receive interest on deposits in the form of bitcoins, form investment portfolios, open high-yield savings crypto accounts.

The payment giant is currently partnering with 35 crypto firms, but the Visa Crypto APIs program is the first time that such solutions are offered to banks.

The company believes that stablecoins could becomea convenient tool for trade and exchange internationally, creating a bridge between thousands of financial institutions of various types. It is possible that Visa is preparing the basis for the deployment of its own digital currency, replacing fiat, the technology of issuing which it intends to patent.

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