Following the success of its first launch in the United States earlier this year, FTX is now planning to roll out its Visa crypto debit card to other countries.
According to FTX, states in Latin America will be a primary target of the first growth, with Europe and Asia to follow.
FTX, a cryptocurrency exchange, announced that it would now provide Visa debit card services in over 40 more countries. Though it did not name any particular states, the company did say that many of them are in Latin America.
Earlier this year, FTX introduced the Visa debit card in the United States, allowing customers instant access to their crypto holdings at merchants who accept the card. In light of this success, FTX has decided to expand internationally by forming a long-term collaboration with Visa to issue cards in a considerably larger number of countries.
Then, FTX intends to launch campaigns in Europe and Asia. The launch in Europe is expected to take place before the end of 2022, while releases in other regions, presumably including Asia, are scheduled to begin in early 2023.
The exchange’s Visa debit card functions similarly to a bank debit card, allowing cardholders to make purchases at any of the more than 80 million merchants worldwide that accept Visa. When using an FTX card, cardholders won’t have to worry about paying any hidden fees or commissions.
Bitcoin, Ethereum, Dogecoin, Solana, and the stablecoin Tether are just some of the hundreds of cryptocurrencies that may be traded and held in custody on the FTX platform.
Visa’s Head of Crypto, Cuy Sheffield, stated in the announcement that digital currencies would have a lasting influence on the future of financial services and money flow. They’re thrilled to work with top crypto exchanges like FTX to improve users’ access and experience with cryptocurrency.
Coinbase, Binance, and Crypto.com are just a few competitors that have begun selling crypto debit card services, and FTX is extending its program too.
