Visa terminates partnership with crypto debit card FTX
Crypto winter

Visa terminates partnership with crypto debit card FTX

In another consequence of the fall of the FTX crypto exchange, Visa has terminated its partnership regarding the FTX crypto debit card.

A Visa spokesperson confirmed to Reuters the end of the global FTX crypto debit card agreements:

“The situation with FTX is unfortunate and we are closely monitoring developments. We have terminated our global agreements with FTX and their U.S. debit card program is being discontinued by their issuer.”

Already available in the U.S., the FTX crypto bank card was about to be launched in 40 additional countries focused on Latin America, Asia and Europe, as we discussed in an article about it.

The tragic demise of FTX’s crypto bank card will favor industry leaders Binance Card and CryptoCom Card.

Whether it’s the demise of the FTX crypto trading platform or its Bitcoin bank card, Binance, Kraken and a few other serious crypto exchanges will indeed pick up the customers who had to abandon FTX after its collapse in just a few days.

Increasingly popular, crypto debit cards have a lot of potential to grow in the future thanks to a cryptocurrency adoption that is gaining ground every day.

The main advantage of a crypto debit card is that you no longer have to convert your bitcoins and cryptocurrencies into euros, then send them to a traditional bank account in order to spend your money. A crypto debit card will directly debit your purchases to your cryptocurrency account that you hold on a crypto exchange such as Binance or CryptoCom.

Leave a Reply

Your email address will not be published.

back to top