VISA, the payment processing giant has launched its cryptocurrency financial advisory arm for institutions, in a bid to expand its crypto-focused services. The crypto advisory services would be housed within the consulting and analytics division and it would help Visa clients to navigate their way through the vast crypto space.
Visa said the crypto advisory group would help financial institutions, retail giants, and other businesses in their crypto venture, be it rolling out crypto features or exploring the popular Non-Fungible Tokens (NFT). The payment processor also revealed that American bank UMB has become its first client and they are already using its crypto advisory services.
Nikola Plecas, Visa’s European crypto lead said:
“Crypto for us is a huge new vertical and growth opportunity. And we will be continuing to focus on growing this business moving forward,”
VISA Processed $3.5 Billion in Crypto Payments
Visa has come a long way from blocking crypto transactions on its platform up to 2019 and now trying to become a leading payment processor in the crypto market. The payment gateway giant processed $3.5 billion in crypto-linked transactions on its network from Oct. 1, 2020, to Sept. 30, 2021.
Earlier in the first quarter of 2021, Visa has said that it would focus on becoming the largest gateway for crypto in the coming future. Apart from offering customers and merchants to accept crypto payments, the payment processor is now looking to venture into the NFT world as well. Visa paid $150,000 for the popular NFT collectible crypto punks.
Cuy Sheffield, head of the crypto at Visa had said:
“We think that NFTs are going to play a really important role in the future of retail and social media, entertainment and commerce. So we wanted to understand firsthand what it takes to acquire, custody, and interact with an NFT. We’ve worked with Anchorage to do this so that we can build the expertise and be better positioned to help clients navigate this space.”
The new crypto advisory group would also offer its services for NFT lunches and use them for brand promotions.
- UBS Warns Of Apocalyptic Crypto Winter And The Cryptocurrency Prices Are Poised To Crash
- SOL Tanks 6% As Solana Faces Another 48 Hour Outage, Boom and Bust Moment for Solana?
- Fantom (FTM) Surpasses Avalanche and Solana as DeFi TVL Crosses $12 Billion
- Buy The Dip Survey Shows 61% Of Chinese Bitcoin Investors Still Willing To Bet On Bitcoin
- Mike Novogratz Bets To Pay Peter Schiff $1 M If Bitcoin Price Stays Below $35,000 After 2022
- “At Some Point There’ll Be A Flash Crash” Says Gold Bull Peter Schiff
- Binance And FTX Worst Hit Exchanges As Losses Climb Almost Two Billion Combined
- Bitcoin S2F Founder says Current dip cannot stop Bitcoin from Adding Another Zero
- Football Clubs Look To Mine Cash Revenue With Crypto Offerings
- Fed Readying To Launch The US Crypto Policy? White House Directs Agencies To Prepare Report
- Solana Creeps Higher, Looks To Revisit January Highs AT $177.0
- Ethereum Price Analysis: Fibonacci Retracement level 0.618 Triggers Recovery Rally In ETH Coin
- BTC Price Analysis: Death Crossover Brings Nightmares On Satoshi Street; Is This A Buying Opportunity?
- Bitcoin Death Cross Haunting Investors, Will BTC Make or Break?
- DOGE Price Analysis: Highly Influential Bearish Trendline Undermines Bullish Attempts; Buy, Sell Or Hold?
- Terra Price Analysis: Will LUNA Price Bounce Back at 0.382 Fibonacci Retracement?
- SAND Price Analysis: Sandbox Price Losses 50% Retracement Level, Good Time to Buy?
- LINK Price Analysis: Chainlink price reclaims 200-day EMA, Emerging trendline Suggests More Upward Price Movement
- Harmony Price Analysis: Rising Parallel Pattern Could Lead 30% Growth In $ONE Price
- Ripple Price Analysis: XRP Bears Struggle To Breach $0.7 Support Zone, Is A Reversal Next Move?