Debit Card Agreements
Image Credit: Visa

FTX, the world’s 3rd largest cryptocurrency trading platform, announced its bankruptcy recently, and Visa announced that it would terminate its global debit card agreements with FTX.

According to a report by Reuters, cryptocurrency platform FTX stated on November 11 local time announcing that it filed for bankruptcy in the United States and that chief executive Bankman Fried had resigned. The cryptocurrency fell hard as FTX’s finances presented a mess last week.

Visa reached global debit card agreements with FTX just last month

Debit Card Agreements
Image Credit:

Last month, Visa reached a long-term partnership agreement with FTX to launch FTX VISA cards in 40 countries worldwide to facilitate payments using cryptocurrencies from FTX exchanges.

Visa also terminated its global agreement with FTX after news of FTX’s bankruptcy announcement came out, and several virtual currency trading platforms suspended the original coin FTT issued by FTX.

A Visa spokesperson said they would be closely monitoring the developments.

Video Credit: Tech With Nana

Leave a Reply

Your email address will not be published.

You May Also Like

Adidas Appoints New Chief Executive From Puma

German sports brand Adidas appointed Bjørn Gulden as the company’s chief executive on the 8th of this month

Twitter Blue Tick Making Reappearance On Nov 29

After the acquisition of Twitter, Musk announced the official certification of the “Twitter blue tick” as a fee program

Google Slapped With Nearly US$400mil In Privacy Lawsuit

Google agreed to pay $392 million to settle a landmark privacy lawsuit with 40 US states.

Enjoy Your Healthy Delicious Meal With Restaurant Huang Kee

Restaurant Huang Kee in Taman Impian Emas, Johor Bahru, however, cooks his specialties and has been able to stand through in the industry.