Payments giant Visa announced Wednesday the launch of its global crypto advisory services (within Visa Consulting & Analytics), marking a significant step in mainstream financial adoption of digital assets. Visa noted that as digital currencies take greater hold in public consciousness, financial institutions are shifting from exploration to building concrete product roadmaps.
Visa’s Crypto Advisory: Expertise from Real-World Partnerships
The new offering draws on Visa’s experience working with over 60 crypto platforms. Consultants and product experts can help financial institutions evaluate crypto opportunities, develop strategies, and pilot innovations such as crypto rewards programs and CBDC-integrated wallets. Claudio Di Nella, head of Visa Europe’s consulting & analytics, said: “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.” Uma Wilson, executive vice president at UMB Bank, added: “We came to Visa to learn more about crypto and stablecoins and the use cases most relevant for our retail and commercial business lines.”
Consumer Survey: 94% Awareness, One-Third Already Holding Crypto
Visa also released a report titled “The Crypto Phenomenon: Consumer Attitudes & Usage”, surveying over 6,000 financial decision-makers across eight markets (Argentina, Australia, Brazil, Germany, Hong Kong, South Africa, the UK, and the US). Key findings: 94% global awareness of crypto among those with household finance discretion; nearly one in three crypto-aware adults already own or use cryptocurrency; and 62% of that group say their usage has increased in the past year.
Strong Interest in Crypto Cards and Rewards
The survey reveals huge potential for crypto payment products. 81% of current crypto owners express interest in crypto-linked cards that allow converting and spending crypto at retailers like a debit/credit card. 84% are interested in crypto rewards, earning crypto as a reward for card spending. Cuy Sheffield, Visa’s head of crypto, commented: “Crypto is becoming cultural. It’s becoming cool.” He noted that NFTs are attracting a whole new class of mainstream consumers. This week, Visa also participated in a funding round for crypto transaction monitoring platform TRM, further cementing its crypto ecosystem involvement.