Payment giant Visa has partnered with cryptocurrency exchange FTX to make cryptocurrency available in about 40 countries through a debit card. The countries involved are mainly located in Latin America, Asia and Europe. Through this partnership, Visa is going to storm the cryptocurrency market already invaded by its competitors, including Mastercard.
Visa and FTX hand in hand
Payment companies are increasingly integrating the crypto ecosystem. This week, payment giant Visa partnered with cryptocurrency exchange FTX to implement a debit card in about 40 countries located mainly in Latin America, Asia and Europe. The latter was already operational in the United States of America.
Thanks to this partnership, FTX customers in 40 countries will be able to make purchases with their cryptocurrencies. In addition, merchants will be able to accept them more easily, boosting adoption a little more.
Officials from both companies reacted to the news of the partnership. For Vasant Prabhu, CFO of Visa, his company has no position on crypto but sees a growing interest in this kind of asset even when its value is falling as currently. For him, as long as there are people using crypto to buy, his company will integrate digital assets.
Even though values have gone down, there is still a consistent appeal to cryptocurrencies. We don’t have a position as a company on what the value of cryptocurrency should be or if it’s a good thing in the long run… As long as people have things they want to buy, we’ll be there to facilitate the purchases.Vasant Prabhu, CFO of Visa to CNBC
For his part, Sam Bankman-Fried, CEO of FTX felt that this partnership is further proof that cryptocurrency is gaining traction as a payment method. For him, traditional payment companies should definitely embrace cryptocurrency rather than fight it.
For his part, Sam Bankman-Fried, CEO of FTX felt that this partnership is further proof that cryptocurrency is gaining traction as a payment method. For him, traditional payment companies should definitely embrace cryptocurrency rather than fight it.SBF to CNBC
The interest of payment companies in cryptocurrency is growing more and more. A few weeks ago, Mastercard launched a crypto card in Spain in partnership with the exchange EurocoinPay. Partnerships between crypto players and traditional finance operators are also growing. The same is true of businesses accepting cryptocurrency. It’s time to take an interest in this sector. Fortunately, there is no shortage of educational content and events.
I dream of a world where every citizen has total control over themselves, including their finances. I believe that Bitcoin is one of the tools that will achieve this revolution. Since 2019, I am learning about this cryptocurrency and spreading the word around.