Crypto exchange FTX partners with Visa to introduce debit cards in more than 40 countries

In Brief

FTX partners with Visa to release debit cards in 40 countries

Individuals can join the waitlist on the official website

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FTX, one of the largest cryptocurrency exchanges, and payment giant Visa have introduced debit cards permitting users to pay directly from their cryptocurrency accounts. According to the official website, the cards will be free, and FTX will not charge users fees. 

At the moment of writing, the branded FTX cards are only available in the United States. With the partnership, the initiative will expand to 40 countries, many of which are Latin American. The European launch is scheduled for the end of this year, with additional locations coming in 2023. 

Individuals can now join the waitlist for the FTX Card. Users will receive an email when the card becomes available in their region. 

“We’re excited to partner with one of the world’s largest payment networks to give our users the ability to use their crypto to fund purchases at millions of merchants around the globe. 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,” 

said the CEO of FTX, Sam Bankman-Fried. 

Notably, FTX’s native token, $FTT gained 7% after the announcement, valuing $24,66 at the time of writing. 

The collaboration with FTX means that Visa is now a competitor of Mastercard, which partnered with the largest cryptocurrency exchange Binance in August this year. The collaboration enables Mastercard users to pay in Ethereum, Bitcoin, Dogecoin, and Binance Coin in over ninety million stores that accept Mastercard. 

Such partnerships are making crypto payments easier than ever before and more readily available to the general public. it’s clear the moods around cryptocurrencies are changing, with different industries embracing crypto payments. From designers like Phillip Plein, to telecommunications companies like Spanish Telefónica and luxury resort chain Soneva, many brands are introducing cryptocurrency payment options.

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Valeria Goncharenko

Valeria is an Italy-based writer passionate about web3 and innovation. She is getting her second major in International Business Management while dedicating her spare time to photography and fashion. You can contact her at [email protected]

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