Visa and FTX connect to enable crypto purchases with new debit card

FTX has announced the successful global launch of its Visa-branded crypto debit card which will allow customers to make purchases via cryptocurrency. 

The crypto debit card will become available to users in the United States with a focus on the European, Latin American and Asian markets during its next rollout phases. 

The debit cards, which are linked directly to the user’s FTX accounts, will be made available in 40 additional countries and the crypto exchange platform states that the debit card will become available to European customers before the end of the year, with additional regional launches planned for 2023. 

CEO of FTX, Sam Bankman-Fried commented: “We’re excited to partner with one of the worlds largest payment networks to give our users the ability to use their crypto to fund purchases to 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.”

Through a single link, FTX Visa debit cards holders can connect their FTX account to their Visa one, allowing a seamless conversion journey to pay for foods and services with cryptocurrencies. 

Cuy Sheffield, Head of Crypto at Visa, added: “At Visa, we believe that digital currencies will have a lasting impact on the future of financial services and money movement.

“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.”