Payments company Visa has announced the creation of a new advisory division to help the company’s clients navigate cryptocurrencies, the CNBC reports.
The structure, which will become part of Visa’s consulting and analytics department, will offer advice to financial institutions, retailers as well as other firms on everything from the deployment of crypto functions to the study of non-fungible tokens (NFTs).
According to the head of the company’s cryptocurrency business in Europe, Nikola Plecas, the decision is the next step in moving into the field of digital assets. Since October 2020, the company’s payment network has processed $3.5 billion in crypto-related transactions, he has noted. He added:
“Some of the leading exchanges in the industry have millions, and in some cases tens of millions of users.”
The payments giant also develops products related to stablecoins and central bank digital currencies.
Visa expects its crypto consulting services to help the massive adoption of Bitcoin and other digital assets as the company seeks to expand beyond the card payments business. Plecas added:
“Cryptocurrencies are a huge new topic for us and an opportunity for growth. And we will continue to focus on the development of this business, moving forward.”