Visa is launching an advisory practice to help clients as they look to enter the world of cryptocurrencies.
Bitcoin and the like have moved beyond their niche status, attracting massive interest among consumers around the world. A new global survey from Visa shows that 40% of crypto owners would be likely to switch primary banks to one that offers crypto products.
For financial institutions eager to attract or retain customers with a crypto offering, retailers looking to delve into NFTs, or central banks exploring digital currencies, understanding the crypto ecosystem is a vital first step.
Visa is now positioning itself to share the expertise it has built up through its immersion in the sector over the last few years with its global crypto advisory practice.
“We’ve 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,” says Carl Rutstein, global head, Visa consulting and analytics.
The Visa survey shows that awareness of crypto is almost universal, while nearly one in three crypto-aware adults already own or use it.
Terry Angelos, SVP, global head of fintech, Visa, says: “As consumers change their approach to investing, where they bank, and their views on the future of money, every financial institution will need a crypto strategy.”