FTT, the native token of crypto exchange FTX, surged 7% after a report that payment giant Visa (V) has partnered with the exchange to rollout crypto debit cards.
The partnership will see the exchange release crypto debit cards in 40 countries with a focus on Latin America, Europe and Asia, according to a CNBC report. FTX CEO Sam Bankman-Fried told CNBC that crypto debit cards can disrupt traditional payment networks.
Crypto payments have been a slow burner since the inception of digital assets more than 10 years ago. Price volatility and a lack of desire to use scaling solutions like the Lightning Network has perturbed retailers, but accountancy firm Deloitte believes that is soon to change with a prediction that 75% of merchants will accept crypto within the next two years.
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