One of the world’s most prominent crypto exchange platforms has partnered with payments giant Visa to provide crypto debit cards in dozens of nations.
According to a recent news release, FTX is extending its cooperation with Visa to provide crypto debit cards in over 40 countries, with a particular emphasis on Europe, Latin America, and Asia.
Already available in the United States, these cards will be immediately connected to a user’s FTX account. Customers may pay for products and services using their FTX wallet’s crypto balance.
Says FTX founder and CEO Sam Bankman-Fried, This card enables users to access their FTX crypto balances 24 hours a day, 7 days a week, 365 days a year, without incurring any administrative or transaction costs.
In a recent interview with CNBC, Bankman-Fried also said that he expects existing financial institutions will continue to welcome crypto companies as opposed to fighting against them.
“We anticipate that this technology will disrupt established payment networks. As a conventional payments organisation, you must decide whether you want to lean into this or oppose it. I appreciate that many of them are leaning towards it.”
The millionaire continues by stating that although crypto assets are useful in the United States, they are much more valuable in countries with weak payment systems.