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Visa Ends Its Debit Card Pact With FTX
The original partnership to release crypto debit cards in 40 countries was reported on in October.
Payments company Visa (V) has elected to terminate global agreements with FTX after the crypto company’s sudden collapse.
“We have terminated our global agreements with FTX and their U.S. debit card program is being wound down by their issuer,” a Visa spokesperson told CoinDesk.
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It was reported in October that Visa had partnered with FTX release crypto debit cards in 40 countries with a focus on Latin America, Europe and Asia, sending prices of FTX's crypto token FTT higher.
"The situation with FTX is unfortunate and we are monitoring developments closely. In all our undertakings – in digital currency and beyond – our focus on security and trust remains paramount," Visa added in its comment to CoinDesk.
Michael Bellusci
Michael Bellusci is a former CoinDesk crypto reporter. Previously he covered stocks for Bloomberg. He has no significant crypto holdings.
Parikshit Mishra
Parikshit Mishra is CoinDesk's Regional Head of Asia, managing the editorial team in the region. Before joining CoinDesk, he was the EMEA Editor at Acuris (Mergermarket), where he dealt with copies related to private equity and the startup ecosystem. He has also worked as an Senior Analyst for CRISIL, covering the European markets and global economies. His most notable tenure was with Reuters, where he worked as a correspondent and an editor for various teams. He does not have any crypto holdings.
