Visa’s Announces Crypto Advisory Practice

Visa ($V@US) is known as the world leader in payment systems, and now it is entering the crypto market. Recently, the firm announced the launch of the Visa Global Crypto Advisory Practice. The firm notes crypto awareness has reached 94% and that it wants to attract crypto investors and NFT enthusiasts. To that end, Visa is partnering with 60 crypto platforms to help institutional and retail investors manage their assets properly. In a statement, the firm’s European consulting and analytics head noted, “we’ve seen a material shift in our clients’ mindset in the last year, from a desire to explore and experiment with crypto, to actually building a strategy and product roadmap.” Additionally, Visa conducted research that shows around 40% of crypto owners would be willing to switch to a bank that offers crypto services. Visa’s study also showed that 37% of crypto-aware consumers in emerging markets use cryptocurrencies against 29% in developed markets. 81% of respondents expressed an interest in crypto-linked cards, and 84% were interested in crypto rewards. At press time, Visa stock was up over 2% at just over $207.