FTX expands its crypto card to around 40 countries in partnership with VISA

FTX étend sa carte crypto à une quarantaine de pays en partenariat avec VISA

FTX continues its international expansion by offering its cryptocurrency payment card in around forty countries as part of a partnership with VISA. According to FTX, the card should be available in Europe before the end of 2022.


FTX is launching its crypto card internationally

FTXthe world’s second largest cryptocurrency exchange, has announced that it will has rolled out its card designed for cryptocurrency payments in about forty countrieswith a focus on Latin America.

Binance’s main competitor in terms of traded volume, FTX is a cryptocurrency exchange platform created by the billionaire Sam Bankman-Fried which offers a wide range of trading tools, which you can find in our presentation of the latter.

This crypto card was already available to US citizens since the beginning of this year, but today FTX has decided to expand its geographic reach by partnering with the VISA network. The FTX card allows you to pay with the cryptocurrencies stored on the exchange without having to transfer them anywhere.

A small feature, unlike most of its competitors, specifies the FTX that the use of this card is not accompanied by a special fee.

Note the magnitude of such a partnership in the context of a bear market where investor confidence does not look good. But according to Vasanth PrabhuVISA’s CFO really matters little:

“Although values ​​have fallen, interest in cryptocurrencies remains constant. As a company, we make no pronouncements on the value of cryptocurrencies, nor on their long-term utility. »

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Finally, is bitcoin compatible with the banking system?

Cryptocurrency giants such as Binance, FTX or Kraken continue to interest financial giants. This partnership between FTX and VISA testifies to that, a few months later David Solomon, CEO of Goldman Sachsmet with Sam Bankman-Fried to discuss possible deals.

MasterCard, VISA’s main competitor, is also in the race to accept cryptocurrencies. Just a few days ago, it also announced that it was working with Binance to offer the latter’s crypto card to more than 90 million businesses.

Sam Bankman-Fried acknowledged the irony of these growing partnerships, as Bitcoin (BTC) and related cryptocurrencies have been created to bypass the traditional financial system. The same system that today decides to accept them in the face of their growing success.

One of the main reasons relates in particular to the volume processed in blockchain networks. In fact, last year Ethereum (ETH) transferred more money than VISA alone.

According to SBF, crypto card payments are a path to wider adoption as it enables to incorporate cryptocurrencies into everyday life.

👉 On the same topic – FTX.US President Resignation: A Look Back at a Successful Journey

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Source: CNBC

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