The US multinational financial services company Visa Inc has launched a global crypto consulting service for its clients and banking partners.
Launching from Reuters on Thursday (12/9/2021), Visa's new service is aimed at financial institutions looking to attract or retain customers with crypto offerings.
In addition, this service is also intended for retail companies that want to learn about non-exchangeable tokens (NFT) or central banks that are exploring their digital currency.
The Crypto consulting services provided will also include teaching companies/institutions about cryptocurrencies, enabling clients to use the Visa payment network for digital offerings, and helping manage backend operations.
Not only that, at the end of this year Visa will also launch a service that allows buying, selling and storing digital currencies through their banking partners.
In addition, there are a number of Visa card programs that allow users to use USD Coin or other stablecoin cryptocurrencies (the value of which can be pegged directly to US dollars) to complete customer transactions.
However, the company admits that implementing the crypto services provided by Visa is not an easy matter. Moreover, so that cryptocurrencies such as bitcoin can be used as a medium of exchange, price stability is very necessary.
"If the price is going to fluctuate from $60,000 to $50,000 in a few hours, it's a very difficult thing for merchants to accept (bitcoin) as a currency," said Visa chief financial officer Vasant Prabhu.
"I don't know if cryptocurrencies like bitcoin will ever become a medium of exchange. Stablecoins will," he added.