Visa Now Helping Banks Offer Bitcoin Services

Plus Michael Saylor's "Bitcoin for Corporations" kicks off

Happy Humpday, Blockfolians

The Lede

Here’s one for the “institutional adoption” files. Visa, in partnership with Anchorage, will be offering banks the ability to offer crypto services to their customers via API.

Over the last year, there have been major changes in official US policy on how banks are allowed to interface with crypto. As a result, banks are now scrambling to figure out how to offer things like buying and selling digital assets to customers that are going elsewhere for that set of financial services.

This new offering shows that its not just new players but big established actors that are racing to help banks with those offerings. Expect the competition in this space to do nothing but heat up.

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Highly Relevant Reading

  • 15% of the bitcoin supply is now stashed away by HODLers

  • At Michael Saylor’s Bitcoin for Corporations conference, NYDIG says it expects to hold $25B in BTC for institutional clients by EOY

  • The GameStop trade has made it all the way up to Treasury Secretary Janet Yellen

  • BTC security firm Casa has raised $4m


Community Commentary

Ross Stevens, the break out star of Saylor Day
Hard not to notice the moves

A Really Big Number We Should Be Paying Attention To

$650,000,000

That’s the amount of profit investment giant Ruffer took on their bitcoin investment from December. Don’t worry, they still have $700,000,000 in BTC.


Final Thought

The movements are merging.