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Cryptocurrencies

Visa invests in crypto startup Anchorage

Thursday 11 July 2019 | 12:54 PM CET

Visa has reportedly invested millions in the crypto storage company Anchorage, marking its second investment in a cryptocurrency startup.

Fortune reported that the payments company co-led the funding round together with digital currency-focused venture capital company Blockchain Capital. Anchorage is a Switzerland-based nonprofit group, and its offering provides an alternative to the so-called ‘cold storage,’ where private keys are tucked away in offline locations that are hard to find. These include bank safety deposit boxes or inside of mountains. The company taps into biometric-based software and multiple human reviews to safeguard investors’ digital currency, allowing investors to have control over and access to their assets.

In a recent Visa news, the company announced in late June that it will bring the ubiquity and power of installment lending to digital and physical points of sale (POS) via application program interfaces (APIs) that support the development of customised installment plan options for cardholders. This offering is the latest set of APIs made available to issuers and fintech companies through the Visa Next ‘digital-first’ platform offering, having the goal to provide consistent user experience across channels by tapping into the debit and credit relationships, which are already in place with their banks.

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