Visa has terminated global debit card agreements with FTX

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Published: Nov 14, 2022, 01:36 GMT+00:00

NEW YORK (Reuters) - Visa Inc, the world's largest payments processor, said on Sunday it was severing its global credit card agreements with collapsed crypto exchange FTX.

A Visa credit card is seen on a computer keyboard in this picture illustration

NEW YORK (Reuters) – Visa Inc, the world’s largest payments processor, said on Sunday it was severing its global credit card agreements with collapsed crypto exchange FTX.

“The situation with FTX is unfortunate and we are monitoring developments closely,” a Visa spokesperson told Reuters.

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

FTX and Visa had announced an expanded partnership in early October, including plans to introduce account-linked Visa debit cards in 40 new countries.

(Reporting by Hannah Lang; Editing by Jacqueline Wong)

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