The world’s largest payment processor VISA Inc., has reportedly forayed deeper into crypto by launching a crypto advisory service for its global client base, including banks and merchants, says CNBC. The news follows amid the growing popularity and adoption of digital assets all over the globe. And also, with the payments giant VISA recently revealing its path towards supporting Bitcoin.
Visa To Help Banks Retain Customers, List Crypto Services
Meanwhile, the Wednesday announcement by VISA may have come as a result of the demands for crypto services which has continued to skyrocket. And also because VISA is continuously looking to help financial institutions to either attract or retain customers by offering crypto services to this wide variety of interested customers.
For instance, and as confirmed by the Executive Vice President of UMB Bank, Uma Wilson, UMB bank only came to Visa seeking to learn more about crypto and stablecoins and then to know details about their use cases which will ultimately be good for business. This was after VISA announced a platform that allows the transfer of stablecoins and CBDC back in September.
The payment giant’s latest offering will also help financial institutions looking to lure in retailers who are interested in non-fungible tokens (NFTs). Not only that, the company will also help central banks that are presently exploring the idea of a CBDC.
For now, VISA will be rendering cryptocurrency education services, allowing users to use its network for digital offerings, while it handles the backend operations.
Meanwhile, a recent global research by VISA resulted in approximately 40% of the total number of crypto owners surveyed, being likely or very likely to migrate from their main banks to one that offers crypto-based products and services within the next year.
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