FTX and Visa Expand Global Partnership
FTX has partnered with Visa to launch FTX account-linked Visa debit cards in over 40 countries, beginning with Latin America, and extending to Europe and Asia. This initiative aims to provide FTX users with the ability to use their crypto balances for purchases globally. The cards, already available in the U.S., enable seamless spending at 80 million merchant locations without administrative fees. FTX CEO Sam Bankman-Fried expressed enthusiasm for enhancing user access to crypto for daily transactions.
- Launch of FTX-linked Visa debit cards in over 40 countries, enhancing user access to crypto.
- No administrative or processing fees for cardholders, making it a cost-effective solution for transactions.
- Allows users to spend their crypto at 80 million locations worldwide, increasing the utility of digital assets.
- None.
FTX.com to introduce FTX account-linked Visa debit cards in 40 new countries, initially across Latin America with rollouts in Europe and Asia to follow
NASSAU, Bahamas and MIAMI, Oct. 7, 2022 /PRNewswire/ -- West Realm Shires Services Inc. and FTX Trading Limited, the companies behind FTX US and FTX.COM respectively (collectively referred to as "FTX"), and Visa, a world leader in digital payments, today announced a long-term global partnership. As a part of the alliance, FTX will begin by offering FTX-branded Visa debit cards to FTX customers internationally—with a focus on countries in Latin America, Europe and Asia in the initial phases of the rollout.
Sam Bankman-Fried, CEO of FTX, commented on the news, "We're excited to partner with one of the world's largest payment networks to give our users the ability to use their crypto to fund purchases at millions of merchants around the globe. 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."
The debit cards, which are linked directly to a user's FTX accounts, are currently available in the United States and are now being rolled out globally in over 40 additional countries, including many across Latin America. The next phase of the rollout for the FTX-branded Visa debit cards is expected in Europe before the end of the year, with additional regional launches planned for 2023.
"At Visa, we believe that digital currencies will have a lasting impact on the future of financial services and money movement," said Cuy Sheffield, Head of Crypto at Visa. "We're excited to partner with leading crypto exchanges like FTX to bring more flexibility and ease-of-use to the way people use their crypto—unlocking the ability to use a crypto balance to fund purchases anywhere Visa is accepted."
FTX Visa debit cards will be linked directly to the holder's FTX account, allowing them to seamlessly convert and pay for goods and services with the crypto balance in their FTX wallets. The FTX Visa debit cards allow users to easily make purchases at the 80 million merchant locations worldwide that accept Visa. FTX Visa debit cardholders will not be subject to any administrative or processing fees for using the card.
Adam Jacobs, Global Head of Payments at FTX, concluded, "Through our partnership with Visa, we are continuing to see further expansion of the connection between digital assets and the global financial ecosystem. With the FTX-linked Visa debit cards, individuals can now tap into their cryptocurrency holdings for everyday spending opportunities."
You can learn more about the FTX Visa debit card and register for the waitlist to be notified when the FTX Visa Card is available by visiting: https://card.ftx.com/
FTX Payments offers a full suite of banking and payment services for both business and individual users. FTX Payments also offers the FTX Visa Card which gives cardholders the ability to seamlessly use their crypto 24 hours a day, 365 days a year to fund purchases at millions of merchants around the globe.
FTX.COM is a cryptocurrency exchange built by traders, for traders. It offers innovative products, including industry-leading derivatives, options and volatility products, tokenized stocks, prediction markets, leveraged tokens and an OTC desk. FTX.COM provides an intuitive yet powerful platform for all users, striving to be the most innovative exchange in the industry. FTX.COM has grown quickly since its founding, becoming one of the most respected cryptocurrency exchanges in the world.
To learn more about FTX.COM, please visit: https://ftx.com/
FTX.COM is not available to U.S. residents or residents of other prohibited jurisdictions, as set out in its Terms of Service.
Launched in 2020, FTX US is a leading US-regulated cryptocurrency exchange with the mission of growing the digital asset ecosystem in the United States. FTX US provides its customers with a suite of professional features including industry leading security, liquidity and fiat currency on and off-ramps.
To learn more about FTX US, please visit: https://ftx.us/
FTX Media Contact
Jay Morakis
M Group Strategic Communications (On behalf of FTX & FTX US)
646.859.5951
ftx@mgroupsc.com
Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.
Visa Media Contact
Lea Cademenos
lcademen@visa.com
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SOURCE FTX
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