Visa to open crypto consulting service for banks as sector draws in investors

Visa (V) $Visa(V.US)$ is launching a consulting service that caters to banks weighing their own plans for cryptocurrencies, the company announced on Wednesday, leveraging its own crypto experience as the sector increasingly goes mainstream.

The budding advisory practice is planning to offer financial institutions a range of consulting services on digital tokens and non-fungible tokens (NFTs) — a booming subsector of the crypto market based on blockchain technology.

But in the past year, they’ve seen several key volume indicators signaling why their partners should also get involved. Wall Street banks and individual investors alike are starting to dabble in the sector, with big firms starting to offer crypto-based services to their clients — and a few prominent public figures asking to be paid partly in Bitcoin (BTC-USD) $Bitcoin(BTC.CC)$ .

Crypto cards

Amid the sector's boom, Visa’s partnership with crypto platforms working to issue crypto-linked cards has doubled, to 60. Those partnerships include helping outlets like Crypto.com, FTX, Coinbase (COIN) $Coinbase(COIN.US)$ and BlockFi issue their own crypto cards, which are popular with crypto native customers. Essentially, they are debit or credit cards that lets holders spend crypto or fiat currencies in return for crypto rewards.

Part of the content is taken from Yahoo.