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.