The FTX token increased by more than 7% after it was revealed that Sam Bankman- Fried’s FTX, would launch a debit card in collaboration with global payments leader Visa.
It might get much simpler to spend on cryptocurrencies. Debit cards will soon be available in 40 countries thanks to a partnership between Visa and FTX, one of the biggest cryptocurrency exchanges in the world.
The change would enable FTX users to pay for goods and services with “zero fee” debit cards. Additionally, according to the business website, owning a card is free.
Sam Bankman-Fried, who will be ranked No. 1 on Cointelegraph’s Top 100 in 2022, has long expressed a desire to provide an FTX debit card.
His board’s decision to cooperate with traditional payment rails rather than alternative crypto payment rails like the Lightning Network is in line with his opinion that Bitcoin’s (BTC $19,377) future as a payments network is unviable.
In response to the news, the FTX token, the native coin of the FTX trading platform, increased by 7% and hit a high of $25.62. However, at roughly $80, the token’s all-time high is still some distance away.
The advancement would put Mastercard, a rival, on par with its most recent cryptocurrency ventures.
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