Visa has created a special consulting division. The company believes crypto consulting services to help its clients navigate the world of cryptocurrencies. The payment giant hopes that this measure will contribute to the widespread adoption of Bitcoin (BTC) and other digital assets, CNBC reports.
The new service will offer advice to financial institutions, retailers and other businesses on issues from the deployment of cryptocurrency functions to the study of non-fungible tokens (NFT). Visa is also developing products geared toward stablecoins and CBDCs.
Nikola Plecas, Visa’s European crypto lead stressed that the decision to launch crypto consulting was the next step in advancing into the field of digital assets. Since October 2020, the payment network has processed crypto-related transactions worth £2.64 billion, he noted.
“Some of these leading exchanges have millions or, in some instances, tens of millions of users,” Plecas added.
Visa expects that its crypto consulting services will help the mass crypto adoption, as the company seeks to go beyond the business of card payments.
“Crypto for us is a huge new vertical and growth opportunity. And we will be continuing to focus on growing this business moving forward,” Plecas said.
Visa, together with the marketing firm LRW, conducted a study that showed that 94% of people around the world have some level of awareness about cryptocurrencies. Almost a third of respondents have marked that they use digital assets as an investment or a means of payment. The study showed that almost 40% of the surveyed crypto owners are very likely or most likely to switch their main bank to one that offers crypto-related products in the next 12 months.
Currently, Visa uses its network to buy, sell and store digital currency. The company also offers a credit card that allows users to earn BTC on purchases, as well as use USD Coin, a stablecoin pegged to the US dollar, for settlements on its payment network.
A recent survey showed that almost one in ten residents of the United States is ready to present cryptos as a gift for the New Year, and one in four is ready to buy them in the new year 2022.
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