#Singapore #Visa #stablecoin #Payment Processing

Visa Launches Stablecoin Advisory Practice

In a significant move to further innovate in the digital payments arena, Visa has announced the introduction of its Stablecoin Advisory Practice. This initiative, part of Visa Consulting & Analytics (VCA), aims to support businesses across diverse sectors—ranging from card issuers and banks to fintech companies and merchants—by offering practical insights, strategies, and implementation guidance related to stablecoin technology.

This launch comes at a time when the stablecoin market has seen impressive growth, now boasting a market cap exceeding $250 billion. Concurrently, Visa's payment processing volume has surged, hitting an impressive $35 billion annual run rate by the end of November. This upward trend indicates a strong interest among enterprises looking to leverage Visa's new advisory practice as a means to unlock growth opportunities through stablecoins.

Anthony Sharett, President of Pathward, expressed his enthusiasm regarding the partnership with Visa, stating, "Visa Consulting & Analytics combines Visa's scale, expertise, and specialized consultants to provide unique services. We at Pathward feel honored to be one of the first banks invited to explore this initiative. The potential of stablecoins to bring innovative solutions to the financial services sector is immense, and Visa's team has provided outstanding work, insights, and actionable recommendations that aid businesses in their exploration of these opportunities."

The newly launched advisory practice aims to navigate the evolving landscape of stablecoin infrastructure, which is becoming increasingly widespread, stable, and subjected to new regulatory standards. Within this framework, Visa offers a series of services designed to support strategy formulation and implementation, specifically tailored to the needs of its clients.

Prateek Sanghi, who leads Visa Consulting & Analytics for the Asia-Pacific region, stated, "The stablecoin ecosystem is rapidly evolving, propelled by crypto-native innovators. Financial institutions have a unique opportunity to leverage that reliability and scale. However, taking advantage of this opportunity requires prompt and decisive action. At Visa Consulting & Analytics, we partner with our clients to think from a crypto-native perspective, developing and executing practical strategies that can turn this change into a catalyst for growth."

Services Offered

Visa's advisory practice will tap into a global network of thousands of consultants, data scientists, and product experts to provide a range of services, including:

• - Training on Stablecoins: New courses within the Visa University framework focusing on stablecoin technology and market trends.
• - Stablecoin Strategy Development: Crafting strategies and market entry plans specifically for stablecoin initiatives.
• - Market Assessment: Evaluating use cases and scaling strategies for stablecoin implementation.
• - Technology Assistance: Offering technology support for integrating stablecoins into business processes.

Lauren Morrison, Vice President of Payment Products at VyStar, noted, "Collaborating with Visa Consulting & Analytics provides VyStar access to Visa's scale, cryptocurrency expertise, and specialized consulting personnel. This combination is unparalleled in the consulting industry. The practical insights and tailored recommendations from the VCA team have deepened our understanding of the current state of stablecoins and their potential relevance to our members. Thanks to this partnership, we are able to carefully explore opportunities and formulate informed strategies."

Visa's commitment to driving global payment modernization through blockchain and stablecoin technology reflects its longstanding leadership in the payments industry. In 2023, Visa was among the first major payment networks to pilot stablecoin payments using USDC, currently offering card issuance programs connected with over 130 stablecoins across more than 40 countries. Additionally, Visa Direct's latest pilot program allows eligible businesses in specific jurisdictions to pre-fund cross-border payments using stablecoins, enabling direct transfers to individual stablecoin wallets.

For more insights on how Visa Consulting & Analytics can help design and grow stablecoin businesses, visit their official page.

About Visa

Visa is a global leader in electronic payments, linking consumers, businesses, financial institutions, and governments across more than 200 countries and territories through payment transactions. Visa's mission is to connect the world with the most innovative, convenient, reliable, and secure payment network and contribute to the prosperity of individuals, businesses, and economies. We believe that an inclusive economy enhances the lives of people around the world and that access to the economy leads to the future of payments. For more information, visit Visa.com or Visa Japan.