Today Visa said it had created a Global Crypto Advisory Practice within its consulting and analytics division. It targets three groups, financial institutions interested in engaging with cryptocurrency, retailers potentially exploring non-fungible tokens (NFTs), and central banks for digital currency. The payments firm also published the results of a retail survey of cryptocurrency attitudes.
It gave an example of its crypto work with the regional Missouri bank UMB. “VCA (Visa Consulting) helped us begin to explore a roadmap of a strategy – from product and partner selection to cross-functional considerations such as Technology, Finance, Risk, and Compliance,” said Uma Wilson, EVP and CIO at UMB Bank.
Visa’s retail survey found that 40% of current cryptocurrency owners said they’d switch their bank to one offering cryptocurrency services. Additionally, 85% of owners would buy crypto from their bank.
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