FTX’s new partnership with Visa comes brings new global crypto debit cards. It will allow individuals like us to use crypto for everyday purposes like paying for coffee or some lunch. FTX is already a well-known crypto platform, and Visa’s backing makes it even easier for users to trust these cards. The initial plan is to roll out the cards in 40 countries across the world, starting from Latin America.
FTX’s new crypto debit card powered by Visa
Users who want to use FTX’s crypto debit card need to have an account with the exchange. The user would need to have crypto holdings in the account to be able to pay with their card. FTX won’t be charging any processing or administrative fees with this card. The best part of this card is that Visa has a huge network of merchants, making it practically effortless to pay with your crypto debit card. It’s not as if you have to search for a merchant who accepts it, as that’s mostly everyone.
The crypto head at Visa said they think cryptocurrencies and digital assets, in general, will largely impact the financial services industry and the movement of money. This is why they entered the crypto market even before their competitor Mastercard. Yes, there has been huge volatility in the space, but Visa is still optimistic about its take on cryptocurrencies and their future.
Future plans with Visa
FTX is going to work with Visa to roll out their crypto debit cards all across Europe by the end of 2022. However, it will be important to see what incentives they provide so that users get interested in their cards. That’s because even Binance and Coinbase are also offering cards in partnership with Visa. They might soon offer a reward mechanism for using their card.
The exchange is also going to keep its relationship with Visa, a long-term deal that is going to bear fruitful results for both companies. It is also great for the crypto industry and its users in general.
What are your thoughts as FTX’s new global crypto debit cards are coming soon in partnership with Visa? And do you think FTX will also bring a reward mechanism in their cards? Let us know in the comments below. And, if you found our content informative, share it with your family and friends.
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