Visa launches global crypto consulting practice to help understand the crypto market.

Visa is launching a global crypto advisory practice to help stakeholders better understand the crypto market.

If the cryptocurrencies craze really exists, the market is still unclear to a large part of the public, including the interested public. Therefore, it is necessary to educate, to inform about good and bad methods of work, about the concepts inherent in these technologies. And Visa wants to get it right by launching the Global Crypto Advisory Practice, an integrated offering within Visa Consulting and Analytics designed to help customers and partners move forward in the world of crypto.

Visa launches global crypto advisory practice

Through partnerships with over 60 platforms, Visa’s global network of advisors and experts is expanding its roots to help financial institutions assess crypto opportunities, develop strategies, and drive new user experiences and innovations of all kinds. “Over the past year, we have witnessed a shift in the mindset of our clients from wanting to explore and experience cryptocurrencies to developing a real strategy and product roadmap,” explained Karl Rutstein, managing director of Visa Consulting and Analytics.

to help stakeholders better understand the cryptocurrency market

In a new global study called The Crypto Phenomenon: Consumer Attitude & Usage, Visa found that almost a third of respondents were already directly involved in cryptocurrencies. Globally, nearly 40% of crypto holders surveyed said they are likely to switch their primary bank to one that offers crypto-related products and services within the next 12 months.

Surveying more than 6,000 financial leaders across eight different markets (South Africa, Germany, Argentina, Australia, Brazil, US, Hong Kong and the UK), Visa’s research found the following points:

• 94% of respondents are aware of the existence of cryptocurrency and are interested in it.
• Nearly one in three adults in the know already own or use cryptocurrencies, and the majority of that group (62%) say their use has increased over the past year.
• 37% of crypto-aware consumers in emerging markets use or own crypto, compared to “only”29% in mature markets.
• The main reasons for owning and using cryptocurrencies are: participation in the “finance of the future”(42%) and accumulation of wealth (41%).
• Among cryptocurrency holders, 81% are interested in crypto cards, which allow you to convert cryptocurrency and spend it at resellers in the same way as with a credit or debit card. 84% are interested in cryptocurrencies that earn crypto for every transaction made with a card.
• Globally, 18% of respondents say they are likely to switch from their primary bank to a bank that offers cryptocurrency-related products and services in the next 12 months. This is especially true for emerging markets – 24%. Among consumers who already own cryptocurrencies, almost 40% are ready to switch.