Visa, FTX Ink Long-Term Global Partnership

West Realm Shires Services Inc and FTX Trading Limited, the companies behind FTX US and FTX.COM respectively (collectively referred to as FTX), and Visa Inc V forged a long-term global partnership.
The debit cards, linked directly to a user's FTX accounts, are currently available in the U.S. and are now being rolled out globally in over 40 additional countries.
As a part of the alliance, FTX will begin by offering FTX-branded Visa debit cards to FTX customers internationally, with a focus on countries in Latin America, Europe, and Asia in the initial phases of the rollout.
The debit card will link directly to users' accounts so people can pay for items and services with their crypto balance from their FTX wallets.
FTX CEO Sam Bankman-Fried commented, "We're excited to partner with one of the world's largest payment networks to give our users the ability to use their crypto to fund purchases at millions of merchants around the globe. This card allows users to make use of their FTX crypto balances 24 hours a day, 365 days a year securely and with no administrative or processing fees."
Visa processed $2.5 billion worth of crypto card payments in the first quarter of 2022.
Price Action: V shares traded lower by 1.37% at $183.05 on the last check Friday.
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