Visa (V) Launches Crypto Advisory Service, Presents Findings of New Survey

December 8, 2021 4:32 AM EST

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Visa (NYSE: V) announced this morning it is launching the “Global Crypto Advisory Practice,” a new service available under its Visa Consulting & Analytics (VCA) business.

The aim is to help clients navigate the world of cryptocurrencies by offering advice to financial institutions, merchants, and other clients. The company said it has processed $3.5 billion in cryptocurrency payments through its crypto-eligible card program.

A new service will help clients to “evaluate the crypto opportunity, develop concrete strategies, and pilot new user experiences and innovations like crypto rewards programs and CBDC-integrated consumer wallets.”

“Crypto represents a technological shift for money movement and digital ownership,” said Antony Cahill, Deputy CEO, Visa, Europe. “As consumers change their approach to investing, where they bank, and their views on the future of money, every financial institution will need a crypto strategy.”

Visa also presented findings of the crypto survey it conducted to better understand the current trends in the digital asset ecosystem.

Global awareness of crypto is at 94% while nearly one in three adults aware of cryptocurrencies owns or uses digital assets. The number of crypto owners who increased their holdings over the past year stood at 62%.

“The biggest drivers of owning and using cryptocurrency are to take part in the “financial way of the future” (42%) and to build wealth (41%) – both forward looking motivators,” Visa said.

Visa share price closed at $207.17 yesterday.

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