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.
About Anchorage Digital
Anchorage Digital is a crypto platform that enables institutions to participate in digital assets through custody, staking, trading, governance, settlement, and the industry’s leading security infrastructure. Home to Anchorage Digital Bank N.A., the only federally chartered crypto bank in the U.S., Anchorage Digital also serves institutions through Anchorage Digital Singapore, Porto by Anchorage Digital, and other offerings. The company is funded by leading institutions including Andreessen Horowitz, GIC, Goldman Sachs, KKR, and Visa, with its Series D valuation over $3 billion. Founded in 2017 in San Francisco, California, Anchorage Digital has offices in New York, New York; Porto, Portugal; Singapore; and Sioux Falls, South Dakota. Learn more at anchorage.com, on X @Anchorage, and on LinkedIn.
This post is intended for informational purposes only. It is not to be construed as and does not constitute an offer to sell or a solicitation of an offer to purchase any securities in Anchor Labs, Inc., or any of its subsidiaries, and should not be relied upon to make any investment decisions. Furthermore, nothing within this announcement is intended to provide tax, legal, or investment advice and its contents should not be construed as a recommendation to buy, sell, or hold any security or digital asset or to engage in any transaction therein.
Anchorage Digital Bank National Association offers fiat custody services through the use of an FDIC-insured, licensed sub-custodian.