FTX and Visa launch cryptocurrency debit cards
Bitcoin.com reports that Visa and FTX have partnered to roll out cryptocurrency debit cards in over 40 countries – including the US as well as certain Latin American, European, and Asian countries.
FTX Cards will be linked to FTX cryptocurrency accounts and will allow users to pay for goods and services at merchants that accept Visa cards.
At the time of each transaction, FTX will automatically exchange the exact amount of cryptocurrency that you are being charged at the point of sale into the appropriate fiat currency.
FTX will not charge any administrative or processing fees to debit card users, making transacting with these cards an attractive proposition for crypto owners.
FTX users will also have their funds protected by the platform’s industry-leading security standards, giving users peace of mind that their cryptocurrency is secure when transacting.
“At Visa, we believe that digital currencies will have a lasting impact on the future of financial services and money movement,” said Visa Head of Crypto Cuy Sheffield.
FTX Global Head of Payments Adam Jacobs added that he is excited about how the Visa cards can make cryptocurrency more commonly used as a transactional payment method.
“Through our partnership with Visa, we are continuing to see further expansion of the connection between digital assets and the global financial ecosystem,” said Jacobs.
FTX-branded Visa debit cards are planned to roll out in Europe before the end of 2022, while additional regional launches are planned globally in 2023.