Visa Creates Service To Advise Financial Institutions On Cryptocurrencies

It’s a new dawn. Credit card giant Visa is now in the cryptocurrency business. They won’t be buying and selling yet, though. Its new division will advise everyone. From retail customers to financial institutions, even central banks can get information from Visa’s crypto experts. A lot of people still value the input traditional institutions can give, even if they don’t have the track record. So this seems to be good news for the crypto industry. Related Reading | As Amazon Takes on Visa, Does Cryptocurrency Offer the Real Alternative? Reuters informs: “Visa’s services include educating institutions about cryptocurrencies, allowing clients to use the payment processor’s network for digital offerings, and helping manage backend operations.” And Visa promises: “Tap crypto’s potential with a pioneer in global payments. For crypto to realize its full potential, we are connecting crypto and blockchain networks to our trusted, global payment network. And we’re propelling innovation to deliver even more access and value to the crypto ecosystem.” Visa’s CFO Still Doesn’t Understand Bitcoin In a bizarre move, considering they’re offering expert advice in cryptocurrencies, Visa’s CFO said the darndest thing. Vasant Prabhu told Reuters: “If the price is going to fluctuate from $60,000 to $50,000 in a few hours, it’s a very difficult thing for a merchant to accept (bitcoin) as a currency. I don’t know if ...