Less than nine months after launching a FTX-branded Visa crypto debit card in the U.S., the popular crypto exchange intends to make the card available to its customers in 40 more countries.
Here is how FTX Co-Founder and CEO Sam Bankman-Fried (“SBF”) first announced the FTX Card on 21 January 2022:
Well, earlier today, CNBC journalist Kate Rooney reported that Visa CFO Vasant Prabhu told CNBC in a phone interview:
“Even though values have come down there’s still steady interest in crypto. We don’t have a position as a company on what the value of cryptocurrency should be, or whether it’s a good thing in the long run — as long as people have things they want to buy, we want to facilitate it.“
The FTX CEO told CNBC (by phone):
“It’s a technology that we absolutely see disrupting traditional payment networks. There’s a decision you have to make as a traditional payments company: do you want to lean into this or do you want to fight against it? I respect the fact that many of them are leaning into it.“
SBF went on to say that although “many of these things like are potentially cool and valuable in the United States”, there are places in the world “with really poor alternatives for payment rails and huge demand for something better.”
Cuy Sheffield, Head of Crypto at Visa, said in an email to TechCrunch:
“Crypto is community-driven; we know we can’t deliver the best crypto experiences on our own. With this partnership, we’re bringing together FTX, one of the largest and most innovative crypto platforms, with Visa and our network of 80 million merchant locations.“
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