Visa Launches Crypto Consulting Services

Visa is launching new consulting and advisory services to help its clients navigate the world of cryptocurrencies. CNBC reports: The payments processor said Wednesday its crypto advisory practice, housed within its consulting and analytics division, will offer advice to financial institutions, retailers and other firms on everything from rolling out crypto features to exploring non-fungible tokens. The move marks Visa's latest attempt to push deeper into the crypto industry. From Oct. 1, 2020 to Sept. 30, 2021, the company processed $3.5 billion in digital currency transactions through its crypto-linked card schemes, according to Nikola Plecas, Visa's European crypto lead. "Some of these leading exchanges have millions or, in some instances, tens of millions of users," Plecas told CNBC, adding that the company allows users to spend their crypto at over 80 million merchants. The company is also developing products geared toward stablecoins -- virtual tokens tied to the value of sovereign currencies, typically the dollar -- and central bank-issued digital currencies. Visa hopes its crypto consultancy can help further mainstream adoption of bitcoin and other digital currencies. Like rival Mastercard, the credit card giant sees cryptocurrencies as a key growth opportunity as it expands into areas beyond card payments.

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