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FTX announces issue debit cards by Visa

FTX announces issue debit cards by Visa

Cryptocurrency exchange FTX announced the issue of debit cards supported by Visa. Digital money will be automatically converted into fiat money when paying for purchases.

As reported on the FTX official page, the card will operate like a normal electronic card, working nonstop, with no service disruptions wherever the Visa payment system is available. An extra bonus is that there are no commissions, except some third-party fees. Currently, you can get on the waitlist by following this link

Recall that Visa has previously approved such practices with crypto companies like Binance, Ledger, CryptoSpend, Bakkt, BlockFi, and others. Visa's closest competitor, Mastercard, didn't stand aside either, concluding similar deals with the Gemini exchange and CoinJar.   

We should note that the crypto exchange FTX has received additional funding worth $400 million from investors. The company promised to use the money for expanding its market and services. 


FTX

Two MIT graduates, Sam Bankman-Fried and Gary Wang, founded the FTX cryptocurrency exchange. Previously both were engaged in trading stocks on the stock market, but in 2019 they decided to create a new exchange concerning digital coins. In two years of operation, the company managed to raise more than $900 million (with a business estimate of $18 billion). Initially, the headquarters was located in Hong Kong, but in September 2021 it was moved to the Bahamas.

Trading volume: ~$10 billion.

Number of trading pairs (markets): 435

Legal status: registered in the Bahamas

Fiat currencies: 10 (including USD, EUR, GBR)

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