Altcoins Talks - Cryptocurrency Forum
Further Discussions => Blockchain Technology => Topic started by: Adams-Richard on October 10, 2022, 01:50:56 PM
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The world's largest payments company is collaborating with the international exchange FTX to sell debit cards in 40 nations, with an emphasis on Latin America, Asia, and Europe.
With West Realm Shires Services Inc. and FTX Trading Ltd., Visa announced "a long-term worldwide cooperation" on Friday in order to introduce cryptocurrency debit cards in more than 40 nations. The two businesses respectively own the cryptocurrency exchanges FTX US and FTX.com.
How an FTX Crypto Debit Card Can Benefit You
According to Visa's CFO, the initiative enables clients to spend digital currencies without transferring them away from an exchange.
With the debit cards, customers may utilize the cryptocurrency balance in their FTX wallets to make purchases at any of the 80 million Visa-accepting merchant locations across the world. According to the cryptocurrency company, holders of FTX Visa debit cards won't pay any processing or administrative costs while using the cards.
What the New Crypto Partnership Means for the Future of Visa
Cuy Sheffield, director of the crypto at Visa, said: "Visa team is more than happy to collaborate with top crypto exchanges like FTX to deliver additional flexibility and ease-of-use to how customers utilize their crypto. We'll unlock the option to use a crypto balance to finance purchases everywhere Visa is accepted.
The global payment head of FTX, Adam Jacobs, expressed the same sentiments when he said that their partnership with Visa is continuing to expand the link between digital assets and the world's financial ecosystem. Additionally, consumers may now use the FTX-linked Visa debit cards to access their crypto holdings for everyday purchasing opportunities.
Final Thoughts
I totally agree with how Visa believes that this initiative will give a lasting impact on the future of financial services and money movement. This engagement will certainly be the first of many that will show how the relationship between digital assets and the global financial ecosystem has expanded.