Bahamas-based cryptocurrency exchange FTX has partnered with Visa to launch crypto debit cards across 40 new countries.
FTX, which first introduced a Visa debit card for customers in the US earlier this year, will now focus on countries in Latin America, Europe and Asia in the initial phases of the rollout.
The debit cards, linked directly to a FTX account, lets users convert and pay for goods and services with the crypto balance in their FTX wallets. The cards can also be used to make purchases at 80 million merchant locations worldwide that accept Visa.
Visa says it believes digital currencies will have a “lasting impact on the future of financial services and money movement” while FTX said the partnership demonstrates further expansion of the “connection between digital assets and the global financial ecosystem”.
“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,” commented Cuy Sheffield, head of crypto at Visa.
Next year, FTX is hosting a crypto event bring together investors and builders in the blockchain, digital assets, and web3 space. Crypto Bahamas will take place on 17 to 20 April 2023 at the Baha Mar in Nassau, Bahamas.
Commenting on the launch, Adam Jacobs, global head of payments at FTX, said:
“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.”