Early in October, FTX and Visa announced a strengthened alliance, including plans to roll out account-linked Visa debit cards in 40 more nations, with an emphasis on Latin America, Asia, and Europe and now its reported that Visa terminates contracts with FTX.
Visa reportedly terminated its global agreements with the shuttered cryptocurrency exchange FTX and its American affiliate, FTX US. “Its issuer is closing down its US debit card activity,” the international payments giant added.
In October, Visa and the companies that manage FTX.com and FTX US formed “a long-term international agreement.” As part of the agreement, “FTX will begin by offering FTX-branded Visa debit cards to FTX clients abroad.” Although the debit cards are only now available in the United States, it was stated that they “are now being pushed out internationally in over Forty additional nations.”
After Binance decided not to proceed with the acquisition of FTX, Sam Bankman-Fried resigned from his role as CEO of the firm on Friday. On Friday, FTX submitted a Chapter 11 bankruptcy filing.
