FTX partners with Visa to offer its branded crypto debit cards in 40 countries
The exchange will provide its FTX-branded Visa debit cards globally, offering no administrative or processing fees for using the card.
Crypto exchange FTX announced a partner with payments giant Visa to offer an FTX-branded Visa debit cards in 40 countries, with a focus on Latin America, Europe and Asia.
The FTX Visa debit card will be linked directly to the holder's FTX account, allowing users to seamlessly convert and pay for goods and services with the crypto balance in an FTX wallets. The card allow users to easily make purchases at the 80 million merchant locations worldwide that accept Visa. Cardholders will not be subject to any administrative or processing fees for using the card. The debit cards are currently available in the United States and expected in Europe before the end of the year.
“This card allows users to make use of their FTX crypto balances 24 hours a day, 365 days a year securely and with no administrative or processing fees,” commented Sam Bankman-Fried, CEO of FTX.
“Through our partnership with Visa, we are continuing to see further expansion of the connection between digital assets and the global financial ecosystem. With the FTX-linked Visa debit cards, individuals can now tap into their cryptocurrency holdings for everyday spending opportunities,” concluded Adam Jacobs, Global Head of Payments at FTX.