Visa, the world’s largest payment processor, launched a global crypto advisory service for its banking clients and merchants on Wednesday, as the adoption of digital currencies gains steam. The move is aimed at financial institutions eager to attract or retain customers with crypto offerings, retailers looking to delve into non-fungible tokens (NFTs) or central banks exploring digital currencies, the company said. Visa’s services include educating institutions about cryptocurrencies, allowing clients to use the payment processor’s network for digital offerings, and helping manage backend operations. A new global study by Visa showed nearly 40% of crypto owners surveyed said they would likely or very likely switch their primary bank to one that offers crypto-related products in the next 12 months. Visa is set to launch services this year that will allow buying, selling and custody of digital currency through its banking partners.
Published in The Express Tribune, December 9th, 2021.
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