Visa Survey: 33% Aussies Likely to Patronize Banks Offering Crypto Services

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A new survey carried out by payments giant Visa has revealed that one-third of Aussie crypto investors, representing 33%, are likely to patronize banks that offer digital assets services to ones that don’t in the next year.

The study noted that global crypto awareness among investors trading crypto is significantly on the rise at 93%.

Per the survey, there has been a huge increase in the number of crypto users, with one in four investors – representing 27% – having directly traded digital assets either as investment or as a means of payment.

36% of crypto investors confirmed that they are likely to use the digital asset to pay friends or family in the next year and 33% to purchase Non-Fungible Tokens (NFTs), according to the survey.

The research noted that the large number of individuals representing 40% of interviewees own crypto to generate wealth, 34% want to be part of the “financial way of the future”, and 28% fear missing out on the surge of the asset class.

According to the survey, 73% of crypto investors in Australia prefer using crypto-linked cards to purchase items due to rewards they get from the card usage.

The survey concluded that 82% of crypto investors prefer buying crypto from their banks than using any other method.

This news comes just a day after Visa rolled out a crypto advisory division to help its clients better understand digital assets as well as drive them to widespread adoption.

Banks Turn to Crypto Due to Growing Demand by Clients

Many banks and other financial institutions are now seeking ways to offer crypto services due to growing demands for digital assets by their clients.

Coinfomania reported just last month that Australia’s Commonwealth Bank (CBA) will become the first banking institution in the country to offer crypto services to its clients.

To offer these services, the bank entered a strategic partnership with crypto exchange platform Gemini and the popular crypto analytics company, Chainalysis.

CBA noted that the move was made due to the growing demand for crypto services by its customers. 

Meanwhile, in November, Vikram Pandit, the former CEO of Citigroup Inc. and co-founder of Orogen Group, noted that banks and other financial institutions will start thinking about offering crypto services in one to three years.

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