Payments company Visa has announced the launch of a new consulting and advisory service, aiding its clients as they navigate the world of cryptocurrencies. According to a release from the financial services giant, some banks are already leveraging the new offering, as the hype around cryptocurrency continues to grow.
Cryptocurrency is a digital payment system that doesn’t rely on banks to verify transactions. It’s a peer-to-peer system that can enable anyone anywhere to send and receive payments. Like any currency, cryptocoins are only worth what investors are prepared to believe they are worth – but the amount of belief invested in these mechanisms is surging on all fronts at present. From established entities like Bitcoin to the meme-based Dogecoin, which was recently accepted by Tesla at the behest of CEO Elon Musk, cryptocurrency’s proverbial stock is soaring sky-high.
Amid all that hype, however, it is easy for investors to get swept along by the fear of missing out. As a result, the amount lost to scams involving apparent cryptocurrencies also continues to spiral.
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