Visa has terminated its partnership with FTX after the exchange filed for bankruptcy.
According to sources, the decision involves the termination of the issuance of debit cards for US residents that was announced in January.
Visa FTX users were expected to be able to pay by card worldwide using their exchange balances in digital currencies. Assets would be automatically converted into the required amount in fiat at the time of payment.
The platform announced last month that the payment card would be rolled out in stages in more than 40 countries in Latin America, Europe, and Asia.
A Visa spokesman has now said:
“The FTX situation is unfortunate. We are closely monitoring developments.”