Global payment processing giant Visa has terminated its worldwide debit card partnership with the defunct crypto exchange FTX, according to a report by Reuters.
“The situation with FTX is unfortunate and we are monitoring developments closely. 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 Reuters.
Visa entered into a partnership with FTX in early October. The firm had agreed to issue crypto debit cards and enable crypto payments in 40 countries around the world, starting with Latin America.
The debit cards were supposed to be directly linked to users’ FTX accounts, which would’ve allowed them to pay for goods and services with their digital assets.
Visa is one of the dozen companies that have recently paused or completely ended partnerships with FTX. Miami Heat has terminated its relationship with FTX and is looking for…
