In the part of 2022 we left behind, there was a bear market and this situation caused great damage to investors. This negative development did not lessen the interest of corporate firms in the crypto industry. According to a recent news, the payment giant Visaleading cryptocurrency exchange partnered with FTX.
With the publication of the collaboration announcement, which also included the news that a debit card will be issued in partnership with Visa, the FTX token rose more than 7%.
cooperation, FTX‘s debit cards will be available in 40 countries. Unlike other debit cards, with the adult card to be issued, crypto assets will not have to be moved from the stock market. While it is stated that there will be no ‘transaction fee’ on the card, owning the card will also be completely free.
Koinfinans.com As we reported, Vasant Prabhu, Visa’s CFO, did not hesitate to underline that Visa’s stance on crypto remains neutral. However, he once again stated that they aim to address consumer demands and facilitate them.
One of the influential names in the crypto industry Sam Bankman-Friedcontinued to voice its desire to issue an FTX debit card for a long time. His company’s decision to partner with legacy payment methods as opposed to crypto payment methods like the Lightning Network coincides with his view that the future of Bitcoin as a payment network is not viable.
FTX token, the native cryptocurrency of the FTX trading platform, rose 7% to $25.62 on the news. However, the token’s all-time high is hovering around $80.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.