Payment giant Visa has started advising its clients about cryptocurrency and NFTs. Services are provided to financial institutions, retailers and other organizations interested in working with digital assets. This is reported by CNBC, transmitted by RBC.
Want to help “accept” Bitcoin
Visa believes that helping other companies work with cryptocurrencies will promote mass adoption of Bitcoin and other digital assets. The head of Visa’s cryptocurrency business in Europe, Nikola Plekas, said that in the period from October 1, 2020 to September 30, 2021, the company processed cryptocurrency transactions in the amount of more than $3.5 billion.
“Cryptocurrencies are a huge new topic and a growth opportunity for us. And we will continue to focus on the development of this business,” Plekas noted.
The American bank UMB became the first client of Visa’s consulting initiative.
Backstory
In September, Visa announced that it is working on creating a blockchain network that will allow the conversion of various digital assets, including tokens, stablecoins and national digital currencies (CBDCs).
Also, at the beginning of 2021, the payment giant announced the release of its own system (API) for buying cryptocurrencies, which will be integrated with banks. The launch of the product is planned for the end of the year. Bitcoin and other cryptocurrencies of Visa customers will be stored by the Anchorage depository.
