Visa Partners With FTX to Roll Out Crypto Debit Cards in 40 Nations: everything you need to know about their partnership below.
- Visa is teaming up with global crypto exchange FTX to offer debit cards in 40 countries with a focus on Latin America, Asia, and Europe.
- It’s the payment giant’s latest foray into the space with more than 70 crypto partnerships. Rival Mastercard has been on a similar deal spree.
- “Even though values have come down there’s still steady interest in crypto,” says Visa CFO Vasant Prabhu.
FTX, which launched a Visa debit card for consumers in the United States earlier this year, will now focus on Latin America, Europe, and Asia in the early stages of the rollout.
The cards will enable users to use their crypto balances saved on FTX wallets to purchase goods and services in locations that accept Visa cards.
The payments company is collaborating with global exchange FTX to provide debit cards in 40 countries, with an emphasis on Latin America, Asia, and Europe. The cards, which are currently on the market in the United States, will connect directly to a user’s FTX bitcoin investment account. Customers will be able to spend digital currencies without having to withdraw them from an exchange, “just as you would with any bank account,” according to Visa’s CFO.
Visa Partners With FTX to Roll Out Crypto Debit Cards
Furthermore, holders of these FTX Visa debit cards will not be charged any administrative or processing fees while using the card.
FTX, on the other hand, has been investing capital and forging partnerships to strengthen the crypto sector with the existing fintech setup.
As per a recent KPMG report, FTX crypto exchange is the second-biggest investor in crypto projects, which has already pledged over $500 million (roughly Rs. 4,000 crores) into promising initiatives so far this year.
About FTX Payments
FTX Payments offers a full suite of banking and payment services for both business and individual users. FTX Payments also offers the FTX Visa Card which gives cardholders the ability to seamlessly use their crypto 24 hours a day, 365 days a year to fund purchases at millions of merchants around the globe.
FTX.COM is a cryptocurrency exchange built by traders, for traders. It offers innovative products, including industry-leading derivatives, options and volatility products, tokenized stocks, prediction markets, leveraged tokens and an OTC desk. FTX.COM provides an intuitive yet powerful platform for all users, striving to be the most innovative exchange in the industry. FTX.COM has grown quickly since its founding, becoming one of the most respected cryptocurrency exchanges in the world.