Payment giant Visa said that it will launch a new consulting service focused on the cryptocurrency field to help customers gain a deeper understanding of cryptocurrencies.
As part of efforts to expand the knowledge base of its clients and partners in their cryptocurrency journey, Visa has introduced a global crypto advisory practice as part of the consulting & analytics department.
The encryption consulting business will provide financial institutions, retailers, and other companies with advice from launching encryption functions to exploring irreplaceable tokens.
This year, Visa processed $3.5 billion in digital currency transactions through its encryption-related card program by the end of September this year.
Nikola Plecas, head of Visa’s European encryption business, said that Visa allows users to use their cryptocurrency in more than 80 million merchants. He added that:
“Some of these leading exchanges have millions or, in some instances, tens of millions of users.”
Competitor MasterCard has the same view on the cryptocurrency field and believes that cryptocurrency is a key growth opportunity because it covers areas other than card payments.
Therefore, the company hopes that the encryption consulting service launched this time will allow the public to adopt Bitcoin and other digital currencies further.
Plecas responded that:
“Crypto for us is a huge new vertical and growth opportunity. And we will be continuing to focus on growing this business moving forward.”
Visa is also actively developing virtual tokens linked to legal tenders, the US dollar-and digital currencies issued by the central bank.
In a statement released on Wednesday, Visa said that the percentage of crypto awareness among financial decision-makers has skyrocketed to 94% globally, necessitating a paradigm shift when helping clients build a strategy and product roadmap in this sector.
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