Visa Helps Banks Implement Cryptocurrencies And Tests Direct Bitcoin Payments


  • Visa launches a consulting center for cryptocurrencies for banks
  • They will teach financial institutions the rules of working on the blockchain and help form a team of specialists in cryptocurrencies
  • Visa also launches direct bitcoin payments

Payment giant Visa has created a global cryptocurrency consulting service. The company will help banks develop in this segment.

Kai Sheffield, Head of Cryptocurrency at Visa, stated that “ every bank should have a cryptocurrency strategy . ”

He added that his company should play“ a key role ”in this market. Visa wants to become a “bridge between banks and the cryptocurrency ecosystem.”

The consulting group will help banks develop strategies for digital currencies, as well as build a staff of critical specialists.

Sheffield says there has been a turning point this year. Banks have realized that their customers want access to cryptocurrencies. Therefore, they want to gain more knowledge, learn how to work with exchanges and wallet providers.

Visa recently even conducted special studies. They showed that:

  • on average 10% of clients around the world are ready to move next year to banks that work with cryptocurrencies;
  • in emerging markets this indicator increased to 22%;
  • among clients who already have cryptocurrencies, 40% of respondents want to switch to banks that work with blockchain.

Visa also announced the start testing direct payments in bitcoins. This transaction system will allow coins to be transferred directly to other addresses.

Visa has taken the fast pace in the world of conquering cryptocurrencies. So, in September, they launched direct bitcoin payments in Brazilian banks. And the head of the crypto department, Kai Sheffield, became a devoted connoisseur of NFT art.

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