Visa (NYSE:V) Inc has announced it will launch a consulting and advisory service designed to educate clients on cryptocurrencies and encourage their widespread adoption.
The crypto advisory business will provide advice to financial institutions, retailers, and other firms on all crypto-related topics including non-fungible tokens (NFTs).
The payments processing company is also developing products geared to stablecoins – virtual coins pegged to the value of sovereign currencies like the US dollar.
“Crypto for us is a huge new vertical and growth opportunity and we will be continuing to focus on growing this business moving forward,” said Nikola Plecas, Visa’s European crypto lead.
Visa processed US$3.5bn in digital currency transactions via its crypto-linked card schemes in the year ending 30 September, according to Plecas.
Visa meanwhile released a study highlighting that 94% of 6000 people surveyed globally have some awareness of crypto, while almost a third have invested or used it as a form of exchange.