The world’s largest payments network is partnering with a global crypto exchange FTX to launch debit card services in 40 countries, with major focus on Latin America, Asia, and Europe.
The cards, which are already available in the United States, will enable users with rapid access to their FTX cryptocurrency investing account. The move, according to Visa’s CFO, allows clients to spend digital currencies without having to transfer them off an exchange “as you would with any bank account.”
“Even though values have come down there’s still steady interest in crypto. We don’t have a position as a company on what the value of cryptocurrency should be, or whether it’s a good thing in the long run — as long as people have things they want to buy, we want to facilitate it,” said Visa CFO Vasant Prabhu.
Visa continues to make advances into the cryptocurrency market.
Visa’s latest entrance into the industry brings the company’s overall number of crypto partnerships to more than 70.
The company, which is headquartered in San Francisco, has already collaborated with a number of FTX competitors like Coinbase and Binance.
Edmond is a content writer. Loves to cover stories on Blockchain and Cryptocurrency and write in a way that is captivating and understandable.