In partnership with cryptocurrency exchange FTX, payments giant Visa will launch crypto debit cards in over 40 countries. “At Visa, we believe that digital currencies will have a lasting impact on the future of financial services and money movement,” said a Visa executive.
Visa and FTX launch Crypto Debit Cards for More Than 40 Countries
Visa announced Friday “a long-term global partnership” with West Realm Shires Services Inc. and FTX Trading Ltd. to roll out crypto debit cards in more than 40 countries. They are the companies behind cryptocurrency exchanges FTX.com (US) and FTX.com (UK).
“As a part of the alliance, FTX will begin by offering FTX-branded Visa debit cards to FTX customers internationally — with a focus on countries in Latin America, Europe, and Asia in the initial phases of the rollout,” the announcement details.
The debit cards are linked directly to a user’s FTX accounts. Currently available in the U.S., these cards “are now being rolled out globally in over 40 additional countries, including many across Latin America,” the exchange explained, adding:
With additional launches in 2023, the next phase of rollout for Visa debit cards branded FTX is planned to take place in Europe.
Users can use the debit card to purchase goods or services using their crypto balance at their FTX wallets in 80 million locations that accept Visa. The crypto company noted that FTX Visa cardholders won’t be charged any processing or administrative fees to use the card.
Cuy Sheffield, Visa’s head of Crypto, commented:
Visa is convinced that digital currency will make a significant impact on future financial services and money movement.
“Through our partnership with Visa, we are continuing to see further expansion of the connection between digital assets and the global financial ecosystem,” said FTX’s global head of payments, Adam Jacobs.
“Even though values have come down there’s still steady interest in crypto,” Visa CFO Vasant Prabhu told CNBC Friday. “We don’t have a position as a company on what the value of cryptocurrency should be, or whether it’s a good thing in the long run — as long as people have things they want to buy, we want to facilitate it.”
Let us know your thoughts on Visa partnering with FTX for crypto debit cards to be launched in more than 40 countries. Please leave your comments below.
Images CreditsShutterstock. Pixabay. Wiki Commons
DisclaimerThis article serves informational purposes. This article is not intended to be a solicitation or offer to sell or buy any product, service, or company. Bitcoin.com is not a provider of investment, tax, legal or accounting advice. This article does not contain any information, products, or advice that can be used to cause or alleged result in any kind of damage.