Visa to launch cryptocurrency cards in 40 countries

Cryptocurrency exchange FTX has announced the gradual launch of a Visa debit card in more than 40 countries in Latin America, Europe, and Asia. Residents of Spanish and Portuguese-speaking countries in the Americas are expected to be the first to receive FTX cards, followed by Europe by the end of 2022, and Asia later. Evolve Bank&Trust has become a partner in the initiative, and the cryptocurrency exchange has already opened a waiting list for everyone.

Visa FTX users will be able to securely pay with the card around the world using cryptocurrency wallets. Financial transactions with the card will be available around the clock and will cover as many as 80 million points of sale. Users' digital assets will be automatically converted into the required amount in fiat at the time of payment for goods or services. FTX stated that it will not charge transaction fees, but warned about the possibility of third-party taxation.

FTX is not the first crypto exchange to issue its own cryptocurrency card, as Binance was almost two months ahead of it. At the end of August, the world’s largest cryptocurrency exchange started cooperation with Mastercard Inc. The cryptocurrency payment card is available to users in 90 million stores where the Mastercard payment system operates. Users' digital assets are also converted into fiat currency when paying for goods using the Binance e-wallet. All transactions are fully automatic, you just need to use the terminal. The card also allows users to receive 8% cryptocurrency cashback, as well as zero ATM withdrawal fees.