FTX Focusing on Latin America, Asia, and Europe
There are more than 40 countries planned for the FTX expansion.
Today it was announced that FTX is expanding its Visa Debit card services to more than 40 additional countries around the globe. There were not specific countries mentioned but many were stated to be in Latin America.
The Visa Debit card offered by FTX was launched in the United States early 2022 and allows users to use their crypto funds while shopping. The plans of the company involve bringing more companies into that network thus making FTX more of an international company than it currently is. This is being done via a long-term partnership with visa that started late 2021.
Plans for world expansion also include Asia and Europe with the European rollout planned to take place before the end of this year. The plans for Asia don’t have a specific timeline set but it is expected to happen sometime early in 2023.
The Visa Debit card offered by FTX works just like any other traditional debit card on the market, the only difference is that the funding behind the card is not a traditional bank but your crypto held in your FTX wallet. Users will be able to spend their money at more than 80 million international retailers, basically any that accept Visa and there will be no charges or processing fees for using the card.
The FTX platform supports hundreds of different crypto exchanges including Bitcoin, Ethereum, Dogecoin, Solana, and Tether. This payment system is in direct competition. With other payment systems such as Solana Pay,which does not have a physical Visa card, and Coinbase, which does have a physical Visa card.