• My Account
    • Account details
    • Edit Account
    • Lost password
  • Submit a PR News

No products in the basket.

  • Login
Sunday, April 2, 2023
Thailand PR News
  • Banking
  • Companies
  • Economics
  • Lifestyle
No Result
View All Result
Thailand Business PR
  • Banking
  • Companies
  • Economics
  • Lifestyle
Sunday, April 2, 2023
No Result
View All Result
Thailand Business PR
No Result
View All Result
Home Companies

Visa Introduces Crypto Advisory Services to help Partners Navigate a New Era of Money Movement

PR Desk by PR Desk
July 31, 2022
in Companies
Reading Time: 4 mins read
A A
0
Visa Introduces Crypto Advisory Services to help Partners Navigate a New Era of Money Movement

The case for crypto is getting stronger for financial institutions; new global research finds nearly 40% of crypto owners would be likely to switch primary banks to one that offers crypto products

Visa, the world’s leader in digital payments, today announced the launch of Visa’s Global Crypto Advisory Practice, an offering within Visa Consulting & Analytics (VCA) designed to help clients and partners advance their own crypto journey. This comes at a moment when digital currencies are taking greater hold in the popular consciousness – according to research released today from Visa, awareness of crypto among financial decision makers surveyed is near universal at 94% around the world.1  

For financial institutions eager to attract or retain customers with a crypto offering, retailers looking to delve into NFTs, or central banks exploring digital currencies, understanding the crypto ecosystem is a vital first step. Through their work with more than 60 crypto platforms, Visa’s global network of consultants and product experts have deep expertise to help financial institutions evaluate the crypto opportunity, develop concrete strategies, and pilot new user experiences and innovations like crypto rewards programs and CBDC-integrated consumer wallets.

“We’ve seen a material shift in our clients’ mindset in the last year, from a desire to explore and experiment with crypto, to actually building a strategy and product roadmap,” said Carl Rutstein, Global Head, Visa Consulting & Analytics. Today, Visa is engaging with clients and partners in every region, including the U.S., where Visa’s team is working with UMB Financial Corporation.  

“We came to Visa to learn more about digital currency and the use cases that are most relevant for various business lines as we serve our customers in the years ahead,” said Uma Wilson, executive vice president, Chief Information and Product Officer at UMB Bank. VCA helped us begin to explore a roadmap of a strategy – from product and partner selection to cross-functional considerations such as Technology, Finance, Risk, and Compliance.”

VISA STUDY EXPLORES CONSUMER ATTITUDES AND ADOPTION OF CRYPTO

Client interest in building crypto solutions comes as new Visa research shows significant awareness and adoption among consumers globally. In a new global study, “The Crypto Phenomenon: Consumer Attitudes & Usage,” Visa found that nearly one-third of respondents have directly engaged with crypto – either as an investment vehicle or as a medium of exchange. And globally, nearly 40% of crypto owners surveyed report they would be likely or very likely to switch their primary bank to one that offers crypto-related products in the next 12 months.

“Crypto represents a technological shift for money movement and digital ownership,” said Terry Angelos, SVP, and global head of fintech, Visa. “As consumers change their approach to investing, where they bank, and their views on the future of money, every financial institution will need a crypto strategy.”  

Surveying more than 6,000 financial decision makers across eight markets (Argentina, Australia, Brazil, Germany, Hong Kong, South Africa, the U.K. and U.S.), the Visa study uncovered the following insights:

  • The crypto headlines are having an impact. Awareness of crypto is almost universal at 94% globally among survey participants with discretion over their household finances.
  • A significant segment is using or investing with crypto: Nearly one in three crypto-aware adults already own or use cryptocurrency, and the majority of that group (62%) say their use has increased in the past year.
  • Engagement is higher in emerging markets. 37% of the crypto-aware consumers surveyed in emerging markets use or own crypto, compared to 29% in developed markets.  
  • Key motivators include wealth-building and belief in crypto as the future of financial services. The biggest drivers of owning and using cryptocurrency are to take part in the “financial way of the future” (42%) and to build wealth (41%) – both forward looking motivators.  
  • Crypto-linked cards and crypto rewards are attractive. Among current crypto owners, 81% express interest in crypto-linked cards, which allow you to convert and spend crypto at the retailers where you shop in the same way you can use a debit or credit card. 84% are interested in crypto rewards, which allow you to earn crypto as a reward for your card spending.

Consumers are willing to switch banks in search of crypto products.  

Globally, 18% of survey participants say they would be likely or very likely to switch their primary bank to one that offers crypto-related products in the next 12 months. This is particularly true for emerging markets, which jumps to 24%. Among consumers who already own cryptocurrency, nearly 40% are willing to make the switch.  

To download “The Crypto Phenomenon: Consumer Attitudes & Usage” and learn more, click here.

image

Source link

RelatedPosts

Grishma Kewada appointed Singapore’s country manager

Central Group Joins Forces at APEC 2022, Aiming to Drive the Thai Economy to the World Stage and…

‘Fitch Maintains ‘A-‘ IFS Rating for Thai Life with a Stable Outlook’

Tags: visa
Previous Post

Turning the tide on plastic pollution through regional collaboration in Southeast Asia

Next Post

Bangkok Bank joins the National Blood Center of the Thai Red Cross Society to organize a mobile…

PR Desk

PR Desk

Related Posts

Grishma Kewada appointed Singapore's country manager

Grishma Kewada appointed Singapore’s country manager

April 2, 2023
Central Group Joins Forces at APEC 2022, Aiming to Drive the Thai Economy to the World Stage and...

Central Group Joins Forces at APEC 2022, Aiming to Drive the Thai Economy to the World Stage and…

March 29, 2023
Minor Hotels Appoints Paul Stocker as Vice President of Operations for

‘Fitch Maintains ‘A-‘ IFS Rating for Thai Life with a Stable Outlook’

March 27, 2023
Next Post
Bangkok Bank joins the National Blood Center of the Thai Red Cross Society to organize a mobile...

Bangkok Bank joins the National Blood Center of the Thai Red Cross Society to organize a mobile...

  • Thailand PR News
  • News
  • My account
  • Privacy Policy
  • Cart
  • Contact Us
  • Submit a PR News
  • 泰国公关新闻
  • ไทย
  • English
  • 中文 (中国)

© 2022 Siam News Network - Thailand Business News and advertising Network. Powered by VLoss.

No Result
View All Result
  • Homepage

© 2022 Siam News Network - Thailand Business News and advertising Network. Powered by VLoss.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In