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Neobank First Boulevard will test a suite of crypto application programming interface tools as part of Visa Inc.’s digital-currency strategy, Visa announced Wednesday. And Uphold Inc., a platform for digital wallets and cryptocurrency trading, has acquired Optimus Cards UK Ltd. and intends to issue crypto-enabled debit cards in Europe on the Optimus platform.
Visa said the First Boulevard test of the Visa crypto API will lead to commercialization of the service for Visa clients later in the year, allowing their customers to buy, hold, and trade digital assets. First Boulevard is an Overland Park, Kan.-based digital bank that advocates for Black financial betterment.
Part of the test will examine how financial institutions that lack a digital-currency infrastructure can use the Visa technology for crypto assets and blockchain networks. “With this pilot program, we want to extend the value of Visa to our neobank and financial institution clients by providing an easy bridge to crypto assets and blockchain networks,” Jack Forestell, Visa chief product officer, said in a statement.
First Boulevard also will offer a Visa debit card that includes early access to wages, cash back in its Buying Black program, and financial education and budgeting tools.
In related news, Uphold plans to start rolling out in April what it calls the “world’s first multi-asset, crypto-enabled debit card” in Europe following its acquisition of Optimus. Terms were not disclosed.
Uphold said issuing of the cards will start in April. It launched a U.S. debit card in March. “The card has already proved a hit with our U.S. customers offering a unique combination of utility, convenience and crypto-back rewards,” JP Thieriot, Uphold chief executive, said in a release.
