Visa Inc, the world's largest payment processor, on Wednesday launched a global crypto advisory service for clients such as banks and also merchants, as the adoption of digital currencies gains steam.
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Visa's services include educating institutions about cryptocurrencies, allowing clients to use the payment processor's network for digital offerings, and helping manage backend operations.
A new global study by Visa showed nearly 40% of crypto owners surveyed would be likely or very likely to switch their primary bank to one that offers crypto-related products in the next 12 months.
Visa currently uses its network to allow buying, selling, and custody of digital currency. It also offers a credit card that lets users earn bitcoin on purchases and also allows the use of USD Coin, a stablecoin cryptocurrency whose value is pegged directly to the US dollar, to settle transactions on its payment network.
However, for cryptocurrencies such as bitcoin to be used as a medium of exchange, price stability is needed, Visa's Chief Financial Officer Vasant Prabhu told Reuters.
