🌐 Taking the Partnership Global
Market Meditations | October 10, 2022
FTX and Visa have expanded their partnership. They are now taking the U.S debit card program to a global level.
- These debit cards are currently available in the U.S. They “are now being rolled out globally in over 40 additional countries.” Their focus is on countries in Latin America, Europe, and Asia.
- The debit cards are linked directly to a user’s FTX account. Cardholders will also not be subject to any administrative or processing fees for using the card.
- Europe’s launch is expected by the end of the year. with additional regional launches planned for 2023.
- Is Visa bullish on crypto? Their CFO, Vasant Prabhu, said that “[Visa doesn’t] have a position as a company on what the value of cryptocurrency should be… as long as people have things they want to buy, [Visa wants] to facilitate it.“
Although crypto prices are down from recent highs, it is a common theme to note that companies such as Visa continue to expand and show interest in crypto. While Visa does not have an official stance on the price of crypto, a Visa executive said, “At Visa, we believe that digital currencies will have a lasting impact on the future of financial services and money movement.“
