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Visa has established a global crypto advisory practice to assist financial institutions to develop their crypto business. According to a recent study by Visa, 18% of global participants intend to switch from primary banks to another bank that offers crypto-related products and services during the next year. The figure rose to 24% in emerging markets. Additionally, for consumers who already own crypto assets, Visa’s study shows that almost 40% of participants said they would switch to a bank that offers crypto products.
The House Financial Services Committee hosted six crypto executives in a wide-ranging hearing on digital assets and stablecoins. BTC price once fell to around $48,600 and quickly pulled back to above $50,000. BTC perpetual open interest has increased about 4% since Saturday and more than $200 million of crypto futures positions were liquidated over the past 24 hours. There is still the potential for more volatility to follow.
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