IlluMyFi

Payment network VISA announced in a press release on Thursday. It said that it will launch the VISA Web3 Loyalty Engagement Solution in partnership with SmartMedia Technologies. Under the new customer loyalty program, VISA aims to provide services like gamified giveaways, augmented reality treasure hunts, and new ways to earn and burn loyalty points in an attempt to keep its customers loyal to the payment giant's services. VISA in an attempt to claw back its customers announced the launch of a NEW Web3 Engagement Solution. Under the re-designed service, customers using the company's payment services will be able to gain extra digital points on making transactions. Payment facilitators across the world have seen an upscale in online customer base, especially after the 2020 global pandemic. However, with rising competition, it has become necessary for all facilitators to develop a loyal customer base to avoid losing business. VISA under its new loyalty program will give its customers a chance to get a variety of digital assets. This could be rewards for ticketing, token-gating, loyalty assets, collectibles, gamified giveaways, AR treasure hunts, and more. The new Visa solution, powered by SmartMedia Technologies, can provide brands with an enterprise platform that bridges Web2 with Web3 innovation that is user-grade and can be customized to create curated experiences and offers for consumers, the company added in the statement. In the wake of a growing customer base that usually prefers personalized gifts and a solid loyalty program, various industry behemoths have started relying more on enhancing Web3 services to give out rewards. Starbucks, Nike, Adidas, and Venmo are just a few names on the list of colossal companies that have turned to Web3 loyalty programs to enhance user experience and possibly turn them into brand advocates.

Sentiment

Bearish/Bullish

13.01.24 07:54

by coingape.com

Vanguard May Reconsider Bitcoin Stance, Analyst Suggests

Bloomberg analyst predicts Vanguard may shift its anti-Bitcoin stance amid market changes and the need for diverse portfolios. Vanguard, a renowned investment firm, is speculated to shift its longstanding anti-Bitcoin stance, according to insights from Bloomberg's senior analyst Eric Balchunas. Despite Vanguard's current direction, Balchunas hints at possibly reevaluating this policy in the foreseeable future, aligning with the firm's expanding advisory services and the need for diverse investment portfolios. Vanguard's current approach towards Bitcoin and cryptocurrencies remains firmly resistant. The firm has recently made headlines by restricting customer access to the newly introduced spot Bitcoin Exchange-Traded Funds (ETFs). This decision aligns with their past actions, notably removing Bitcoin futures ETFs from their platform. According to a Vanguard spokesperson, this move aligns with the company's core values, focusing on products and services catering to long-term investors' needs. This stance, however, has not gone without consequence. Recent reports indicate that some Vanguard customers have started transferring their funds to other firms, seeking investment opportunities in the burgeoning cryptocurrency market. Despite these developments, Vanguard continues to uphold its cautious approach towards digital assets, reflecting the cautious perspective of its founder, Jack Bogle, who in 2017 labeled Bitcoin as a "plague." While Vanguard maintains its conservative stance, Eric Balchunas of Bloomberg foresees a gradual change in the company's philosophy. Balchunas notes that the growing emphasis on wealth growth and the necessity for diversified investments could nudge Vanguard towards reconsidering alternative asset classes like Bitcoin and other cryptocurrencies. This shift, he suggests, would be a strategic move to broaden their advisory business and cater to an evolving investment landscape. Balchunas's perspective is noteworthy, given the increasing institutional interest in cryptocurrencies. This trend is seen in contrast to Vanguard's current trajectory, but it highlights the dynamic nature of investment strategies in response to market demands and opportunities. Intriguingly, Vanguard's investment portfolio presents a contrasting picture. Despite its skepticism towards cryptocurrencies, the firm has significantly invested in MicroStrategy shares. MicroStrategy, known for its substantial Bitcoin holdings, is a key crypto player. As of September 2023, Vanguard holds over 1 million shares in MicroStrategy, valued at approximately $547 million, making it the second-largest institutional shareholder with an 8.24% ownership share. This investment is particularly notable given MicroStrategy's status as the leading public holder of Bitcoin, with an estimated 190,000 BTC valued near $6 billion. Vanguard's substantial stake in a company deeply entrenched in cryptocurrency raises questions about its investment strategy and potential openness to digital assets.