FTX actively cooperates with Visa

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October 9, 2022

Cryptocurrencies are prevalent these days. The number of crypto enthusiasts is growing at a tremendous rate, and they want to be able to pay for goods and services in their favorite currencies. It is worth downloading that many online stores, casinos, bookmakers, and other platforms already accept this payment method. In addition, FTX is expected to launch new debit cards with Visa in 40 countries soon. With their help, you can pay for goods and services in different outlets.

What to expect from new debit cards?

The company plans to launch debit cards with Visa in forty countries (Latin America, Europe, and Asia). This program started earlier this year in the USA and is very successful, so both companies are keen to develop this project.

It is expected that shortly, Spanish and Portuguese-speaking countries of the American continents will have access to such cards, and then residents of Europe and Asia. It is because El Salvador equated crypto to the national currency in South America and many countries where this industry is booming.

Evolve Bank & Trust, which is very popular in this region, was the partner in implementing this project. The crypto exchange has already set up a waiting list.

Thus, users with a Visa FTX card can securely pay for goods and services worldwide in 80 million outlets. You can pay for goods around the clock and all 365 days of the year. Thanks to such a card, you can safely pay by card at the expense of your exchange balances.

Cryptocurrencies from your exchange account will be automatically converted to fiat so that you can easily make payments. At the same time, the exchange promised not to charge transaction fees but warned that there might be additional fees from partners.

It is worth saying that FTX is far from the first crypto company that has partnered with Visa to issue debit cards. So, Binance, Bakkt, BlockFi, CryptoSpend, Ledger, and bitcoinblack have already announced such cooperation. It is worth saying that such experiments were very successful, so we should expect that other exchanges will soon begin to implement similar projects.

It is also worth mentioning that Visa’s closest competitor, Mastercard, is conducting similar experiments. So, in April of this year, the payment system announced the release of new debit cards and the Nexo platform.

Benefits of using crypto cards to pay for goods and services

Using cryptocurrencies to pay for goods and services has many advantages. Firstly, many today have abandoned their usual work in favor of mining and trading, so they are looking for an opportunity to pay for the necessary goods and services using their favorite currencies and, at the same time, not lose money on currency conversion.

Secondly, transactions using such currencies have an increased level of security. It is almost impossible to intercept such payments. In addition, many payment systems have excellent smart contracts.

Thirdly, many payment systems charge too high commissions. So, you can reduce transaction costs using cryptocurrencies, which is especially useful for large amounts.

Thus, today a considerable number of crypto enthusiasts dream of being able to pay for goods and services in everyday life simply using cryptocurrencies. Shortly, most crypto exchanges will likely cooperate with popular payment systems to issue debit and maybe credit cards. It will allow crypto enthusiasts to have more fun using their favorite assets.

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