Visa has a number of crypto products and services that it now offers to its customers. A new job posting by the payments platform indicates that Visa is now seeking to further grow this area of their business.
The job ad invited college graduates to apply to its 18-month rotational Crypto Development Program in a role that will allow them to help "define Visa’s crypto strategy and identify new product opportunities."
Graduates who choose to apply will gain experience in different areas within the emerging cryptocurrency ecosystem at Visa. These are Crypto Product, Crypto Solutions, and Digital Partnerships. The advertisement provided additional information on the development program:
“The Crypto Development Program is an 18 month rotational development experience designed to build a fully fluent cryptocurrency team now and for the future. You’ll enjoy three distinct business rotations that provide you with practical experience of different areas within the emerging cryptocurrency ecosystem at Visa”
The digital payments platform revealed this year that crypto asset spending has increased in the first fiscal quarter, with over $2.5 billion spent in transactions between October to December of 2021, 70% of which were crypto transactions. And with an ever expanding set of crypto wallet partners, this figure will almost certainly rise.
Visa's chief financial officer, (CFO) Vasant Prabhu, noted:
"People are using crypto-linked cards to spend in a variety of ways – retail goods and services, restaurants, travel. They’re increasingly being treated like a general-purpose account. Crypto rewards are a significant part of the value proposition for many of these card programs, particularly for consumers who are new to crypto who may not be directly investing in it, but are excited for the opportunity to earn it as they spend fiat.”
While Visa does not hold digital assets or crypto on its balance sheet. It has a crypto advisory arm and a number of crypto wallet partners and aims to form part of the emerging cryptocurrency ecosystem. Visa’s website notes that “crypto is reaching extraordinary levels of adoption and investment—opening a world of possibilities for businesses, governments and consumers”. With the continuance of Visa’s moves into the crypto realm, it seems that the global payments provider aims to be part of the evolution of payments.
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