Anchorage APIs power Visa crypto-native settlement

Today, we’re proud to announce that Anchorage has enabled another industry first for digital assets: the first crypto-native settlement transaction made to Visa, a capability that Visa will begin piloting later this year. The significance of this milestone can hardly be overstated. The ability to quickly and securely settle transactions with a stablecoin will effectively eliminate the need to involve fiat currency in crypto-to-crypto transactions, laying the groundwork for much more widespread adoption of crypto as an asset class and the proliferation of stablecoins as settlement tools. We’re truly honored to be an exclusive digital asset settlement partner with Visa, taking such an important step forward in terms of normalizing the use of digital assets for payments.

Just this month, Crypto.com successfully sent their first test payments to Visa’s Ethereum address via Anchorage APIs. For the duration of the pilot period, Crypto.com will settle some of its obligations under its Visa card program in USDC, powered by Anchorage APIs. Over time, more and more companies will be able to leverage these payment rails to settle with stablecoins.

It has always been part of our mission to support every digital asset that meets our high bar for security and regulatory compliance. While the pilot itself is launching with one client and one digital currency, there is huge opportunity for growth in the space. It’s not hard to imagine, in the not-too-distant future, crypto settlement in a wide range of digital assets across just about any endpoint in the Visa payments orbit and beyond. This is very much the beginning.

We built the Anchorage platform to make it possible for institutions of all shapes and sizes — from banks, to neobanks, to crypto platforms and payments companies — to easily and securely integrate digital assets services and infrastructure into the way that they do business. Powering the first real crypto settlement on a major payments network is exactly the kind of use case Anchorage was meant to support.

We’re extremely proud of our team for the work that they’ve done to make this vision a reality, and of the role we’ve been able to play in advancing crypto payments thus far. If you’d like to learn more about Anchorage, please get in touch.