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Visa cancels its global debit card arrangements with FTX

Visa Inc, the world’s largest payment processor, announced on Sunday that it was terminating its global credit card arrangements with the defunct cryptocurrency exchange FTX.

 

‘The situation with FTX is regrettable, and we are actively monitoring developments,’ a Visa representative told Reuters.

 

‘We have discontinued our global partnerships with FTX, and their issuer is winding down their US debit card operation.’

 

In early October, FTX and Visa announced an extended relationship, including plans to launch account-linked Visa debit cards in 40 new countries.

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