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Visa Termination Of Partnership With FTX

According to Reuters, the largest payment processor in the world, Visa Inc., said on Sunday that it was terminating its global credit card relationships with the defunct cryptocurrency exchange FTX.
Visa Termination Of Partnership With FTX 2

The crash of FTX has had serious consequences for the current crypto market. Not only FXT but companies with partnerships with it and other crypto companies with investments in Sam Bankman-Fried’s exchange are also being affected. And it seems that FTX’s partnership with Visa has ended.

A Visa spokesperson told 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.”

As Coincu reported, early in October, two companies announced an expanded partnership, outlining plans to roll out account-linked Visa debit cards in 40 new nations.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

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