Visa Announces Crypto Consulting Services

Visa has announced that they will be introducing a crypto advisory service to help partners 'navigate a new era of money movement'.

The consulting services will help clients advance their crypto journey as Claudio Di Nella, Head, Visa Consulting & Analytics, Europe said; "We seen a material shift in our clients’ mindset in the last year, from a desire to explore and experiment with crypto, to actually building a strategy and product roadmap.” The new consulting service will provide a framework to oversee the development of a better payment system using blockchain technology.

Crypto Becoming More Popular

According to Visa, awareness of crypto among financial decision makers in the UK is increasing and is currently at 92%, suggesting that digital assets and cryptocurrencies are becoming more popular for financial institutions. Globally, awareness and adoption of crypto among consumers is also rising, with Visa discovering that one quarter of crypto-aware UK respondents have engaged with crypto directly.

Visa's major rivals Mastercard and American Express have been involved in the blockchain space for some time now. This business move by Visa is expected to bring immense competition to other competitors going ahead, who don't offer such services yet.

Visa has partnered with Chain to establish the Visa B2B Connect platform for cross-border payments. As per the official blog post of Visa, "Using Chain Core, Visa will be able to provide financial institutions with a new way to process business-to-business payments globally, while enabling payment flexibility and reducing costs."

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