Cryptocurrencies to Become More Accessible to First Boulevard Customers, a Neobank Focused on Financial Empowerment of the Black Community
Visa announced a partnership with digital neobank First Boulevard in a press release published yesterday.
First Boulevard, which aims to create generational wealth for Black America, will enable its customers to buy, hold, and trade digital assets. The company is the first to pilot Visa’s new cryptocurrency API (application programming interface).
Jack Forestell, Visa’s Chief Product Officer, said: “We set out to make Visa the bridge between digital currencies and our global network of 70 million merchants. Today, we lead the crypto wallet network with 35 crypto platforms that have chosen to issue with Visa. With this pilot program, we aim to extend Visa’s value to neobanks and financial institutions by providing an easy gateway to crypto assets and blockchain.”
As part of the partnership, First Boulevard will launch its own Visa debit card, featuring benefits such as cashback tied to the Buying Black program and the ability to access paychecks up to two days early. The neobank will also introduce budgeting tools and educational resources to make cryptocurrencies and other emerging asset classes more approachable.
Donald Hawkins, President and CEO of First Boulevard, added: “First Boulevard’s mission is to help Black America build wealth. We are excited to partner with digital payments leader Visa and leverage their crypto APIs to offer the Black community another channel to access cryptocurrencies as a new asset class that can help drive wealth creation.”
This announcement is part of Visa’s broader digital currency strategy, in which the company will explore how financial institutions can use Visa’s technology to access blockchain and crypto markets. The digital infrastructure for the program is provided by Visa partner Anchorage, a federally chartered bank specializing in digital assets.
Diogo Monica, President and Co-founder of Anchorage, commented: “Visa’s crypto API pilot is a meaningful step forward for the adoption of cryptocurrencies as an asset class and for improving accessibility and inclusion in payments and financial services. We are excited to work alongside Visa and First Boulevard to build the infrastructure for a safer, fairer financial future.”
The pilot is expected to launch later this year, with Visa anticipating that additional clients will adopt the APIs to integrate cryptocurrency features into their product offerings.