Visa today announced the launch of its Stablecoin Advisory Practice, a new consulting line aimed at advising banks, fintechs, merchants, and businesses of all sizes looking to integrate crypto assets, known as “stablecoins,” into their product and service offerings.
This program is part of the Visa Consulting & Analytics (VCA) division, which specializes in providing strategic advice. The initiative aims to help companies and institutions assess commercial feasibility, define go-to-market strategies and design specific use cases.
Visa guarantees that: Their advice is in line with new regulatory standardsand states that the consulting offer includes, among other things, training programs, plans for commercial launch, and technical realization for the introduction of these crypto assets.
This comes at a time when the total value of stablecoins has already exceeded $300 billion (USD). Such a market is led by Tether (USDT) and USDC coin (USDC), which maintain the same price as the US dollar.
Banks want to add stablecoins, Visa says
According to Visa, banking executives emphasized the strategic focus of the initiative. May lead to increased recruitment. Lauren Morrison, vice president of payment products at VyStar Credit Union, an American credit union, said:
“Stablecoins represent a potential opportunity to increase payment speeds and reduce costs, so with the support of Visa, we are evaluating how this technology fits into our broader strategy to deliver significant value to our 15 million members around the world,” he said.
In the press release that served as the announcement, Visa recalled that it was one of the first payment networks to test stablecoin payments, which will take place in 2023. Also, currently There are over 130 card issuing programs associated with these crypto assets. In over 40 countries.
Furthermore, as reported by CriptoNoticias, the company has also made progress in incorporating compatibility with multiple stablecoins running on different networks. It aims to facilitate acceptance and conversion into over 25 fiat currencies.
(Tag translation) Cryptocurrency
