FTX Partners With Visa To Allow Crypto Payments In 40 Countries

Despite going through historic lows that the market has rarely ever seen, investors and various financial institutions have faith in the crypto market. Many have faith that it will eventually bounce back to its original highs, or even go much further.

But one of the major moves that show that the crypto market is likely to BounceBack is Visa partnering with FTX. As one of the biggest collaborations in the financial space, this major collaboration will allow individuals to use their cryptocurrencies in everyday transactions.

Cryptocurrency Debit Cards are a Very Real Possibility

One of the major complaints that investors have about cryptocurrencies is that it only acts as an investment. While crypto as a whole was designed as a sort of this decentralized currency, the most that people can do is invest in them.

However, with the help of the new collaboration between Visa and FTX, crypto can be a more streamlined part of the economy. These debit cards link directly to the individuals’ FTX accounts, which means that they can easily use the different cryptocurrencies that they have.

Rolling it Out to Different Countries

The project originally started in the US but is now making its way worldwide, with nearly 40 countries being able to facilitate them. According to the official press release, many European and Latin American countries will also be getting crypto debit cards.

Europe specifically can expect these debit cards to make their way there by the end of the current year, with all 40 countries getting access to these services by the end of the next year. As the project moves into its final stages, it is looking to reach as many countries as it can. This move further solidifies that cryptocurrencies still remain a very valid form of investment.

The Competing Debit Card Companies

Of course, Visa is not the only company to understand just how lucrative it can be to have debit cards dedicated to cryptocurrencies. Therefore, companies like MasterCard and American Express have already started drawing their battle lines, as they are also collaborating with various other cryptocurrencies.

MasterCard is looking to offer Bitcoin along with various other smaller currencies, and American Express has yet to disclose the aces it is hiding up its sleeve. While they haven’t talked about the cryptocurrencies they are offering, they have announced that they will be offering their services soon.

As these companies struggle to race to the top, it is becoming obvious that this is a very lucrative market that is ripe for the taking. And for most payment processing companies, having to choose between joining the crypto movement or fighting against it, they are obviously going to be a part of the movement.