On Wednesday, December 8, 2021, Visa announced that its in-house consulting and analytics division is launching new consulting and advisory services to financial institutions and banks in an attempt to advance in the crypto industry as it is becoming more mainstream.
The advisory service which is aimed at deepening the mainstream adoption of digital currencies will cover digital tokens and non-fungible tokens (NFTs). The payments provider has been involved in the crypto industry since 2019 dealing in conversion transactions.
There has been a surge in the number of financial institutions getting involved in the industry and offering such services to their clients over the past year like the Wall Street banks. There’s also an increasing number of institutions willing to accept digital currencies as payment and also, the number of crypto-related projected, transactions, and customers are on the rise daily.
The company indicated that there are banks already subscribed to its crypto advisory services like the American Bank UMB. The company reportedly processed digital currency transactions worth $3.5 billion from 2020 to 2021. Visa is looking looked going further in the crypto transactions and currently, the company reportedly allows users to spend their crypto at over 80 million merchants.