Cryptocurrency exchange FTX on Friday announced its partnership with Visa Inc., to continue expanding the rollouts of its crypto debit cards. CNBC media first reported the matter.
The partnership will see the exchange launch crypto debit cards in 40 countries focusing on Latin America, Europe, and Asia. FTX targets Latin American countries first, followed by European nations before the end of the year and Asian countries next year.
According to the report, the cards will link directly to a customer’s FTX crypto investing account. The move allows users to spend virtual assets without moving the funds off the exchange, “like you would with any bank account,” Visa CFO Vasant Prabhu explained. The executive acknowledged that “even though values have come down there’s still steady interest in crypto.”
In other words, the card is linked to an FTX account and can be used at 92 million merchants worldwide where Visa is accepted, allowing users to spend up to 90% of the fiat value of their...
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