Visa Ends Its Debit Card Pact With FTX

Payments company Visa (V) has elected to terminate global agreements with FTX after the crypto company’s sudden collapse.

“We have terminated our global agreements with FTX and their U.S. debit card program is being wound down by their issuer,” a Visa spokesperson told CoinDesk.

It was reported in October that Visa had partnered with FTX release crypto debit cards in 40 countries with a focus on Latin America, Europe and Asia, sending prices of FTX's crypto token FTT higher.

"The situation with FTX is unfortunate and we are monitoring developments closely. In all our undertakings – in digital currency and beyond – our focus on security and trust remains paramount," Visa added in its comment to CoinDesk.