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Visa Termination of Partnership with FTX

Harold - CoinCu
2022-11-14 06:02
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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.
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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