Payments company Visa ended its partnership with cryptocurrency exchange FTX after its crash. In October, FTX announced the launching of a Visa debit card in more than 40 countries.
Payments company Visa has ended its partnership with FTX amid the ongoing collapse of cryptocurrency exchanges. “The situation with FTX is unfortunate, and we are closely monitoring developments,” a Visa spokesperson told The Block. “We have terminated our global agreements with FTX, and their US debit card program will be completed by its issuer. In October, the cryptocurrency exchange announced that it would be launching a Visa debit card in more than 40 countries and across Latin America to launch.
We’re excited to partner with leading cryptocurrency exchanges like FTX to bring more flexibility and ease of use to how people use their cryptocurrency and unlock the ability to use a cryptocurrency balance to fund purchases anywhere. Cryptocurrency boss Cuy Sheffield said in a statement at the time. Other companies have also attempted to distance themselves from the embattled cryptocurrency exchange following last week’s events, culminating in FTX filing for Chapter 11 bankruptcy protection.