Using cryptocurrency can become much easier. FTX, one of the world’s largest cryptocurrency exchanges, has partnered with payments giant Visa to launch debit cards in 40 countries around the world.

This move will allow FTX users to pay for goods and services using debit cards that have “zero fees”. In addition, card ownership is free, according to the company’s website.

Sam Bankman-Fried, the most influential person in the crypto space according to Cointelegraph’s top 100 in 2022, has long promoted his desire to unveil the FTX debit card. The company’s decision to partner with legacy payment bars — as opposed to crypto payment bars like the Lightning Network — aligns with his view of the future of Bitcoin (
BTC

point down
$19,499

) as a non-viable payment network.

The FTX token, the native cryptocurrency of the FTX trading platform, rose 7% on the news, hitting a high of $25.62. However, the all-time high for the token is some way off, around $80.

FTX price in the last 24 hours. Source: CoinMarketCap
For Visa, this development will compete with Mastercard’s recent foray into cryptocurrency. “Despite falling values, there is still a steady interest in cryptocurrencies,” said CFO Vasant Prabhu, referring to the bearish cryptocurrency market in 2022.

Source: CoinTelegraph

LEAVE A REPLY