The world’s largest card company just doubled down on its bid to capture the crypto market. Visa announced today that it has launched a crypto advisory practice for its clients and partners under its Visa Consulting and Analytics (VCA) arm.
The news comes just a few months after Cuy Sheffield, Visa’s head of crypto, declared the asset class had become “cool” at a fintech conference last month. The payments behemoth made waves when it bought a CryptoPunk NFT in August this year, but its move to launch a dedicated crypto consultancy shows its attempts to capture crypto market share in a crowded field extend beyond marketing stunts.
Visa’s partnerships with crypto platforms have doubled in the past 18 months, Sheffield told TechCrunch in an interview. Consumers have also spent about $3.5 billion dollars using Visa’s crypto-linked card programs, Sheffield said, up from $1 million in July.
Crypto. The buzzword you hear everywhere from the news to friends hyping it up. Has the craze gone mainstream and reached businesses?
Big names like Microsoft, AMC, Starbucks, and AT&T are in, but what do small businesses think? The Strawhecker Group (TSG) used new survey data from nearly 600 small businesses in the U.S. to illustrate their knowledge, attitudes, and acceptance of cryptocurrency.
Download the infographic
Payments professionals across the ecosystem will find this infographic to be a great resource as the market continues to evolve. Are you working with merchants on a crypto strategy?