One of the most popular crypto exchange platforms in the world is partnering up with payments titan Visa to offer crypto debit cards in dozens of countries.
According to a new press release, FTX is expanding its partnership with Visa to offer crypto debit cards to customers in over 40 countries with a focus on Europe, Latin America and Asia.
The cards, which are already available in the US, will be linked directly to a user’s FTX account. Customers can pay for goods and services using the crypto balance held in their FTX wallets.
Says FTX founder and CEO Sam Bankman-Fried,
“This card allows users to make use of their FTX crypto balances 24 hours a day, 365 days a year securely and with no administrative or processing fees.”
In a recent interview with CNBC, Bankman-Fried also says that he believes traditional finance systems will likely continue to embrace crypto firms rather than fight against them.
“It’s a technology that we absolutely see disrupting traditional payment networks. There’s a decision you have to make as a traditional payments company: do you want to lean into this or do you want to fight against it? I respect the fact that many of them are leaning into it.”
The billionaire goes on to note that while crypto assets have utility in the US, they have even more value in nations with poor payments systems.
“Many of these things are potentially cool and valuable in the United States but more so when you look globally. That’s where you’ll find places with really poor alternatives for payment rails and huge demand for something better.”
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