The introduction of account-linked Visa Debit Cards in 40 new countries, with an emphasis on Latin America, Asia, and Europe, was part of an extended cooperation between FTX and Visa that was announced in the first few days of October.
The largest payment processor in the world, Visa Inc., stated on Sunday that it was ending its global credit card agreement with the insolvent crypto exchange FTX.
“We have terminated our global agreements with FTX, and their U.S. debit card program is being wound down by their issues.”
FTX and Visa announced extended cooperation at the beginning of October, which included intentions to roll out account-linked Visa debit cards in over 40 countries.
The cards currently offered in the US will be immediately linked to a user’s FTX cryptocurrency investment account in accordance with the cooperation agreement.
As with any other bank account, the move had anticipated that clients would be able to spend digital currencies without transferring them off of an exchange. However, the collaboration came to an end a month later when FTX filed for bankruptcy.