Visa, one of the largest payment processors in the world, and FTX, a major cryptocurrency exchange, have a huge surprise for the cryptocurrency industry.

The partnership between the two entities from the traditional and futuristic financial industries is to make access to cryptocurrencies much easier for people.

Visa and FTX Join Hands

Both the financial services giant and the cryptocurrency exchange want to offer cryptocurrency payment services to 40 countries all over the world.

The access to cryptocurrency payments would be through the debit cards that Visa would launch in 40 countries on a worldwide level.

Payments for Services and Goods

The executives have confirmed that their aim is to increase the utility of cryptocurrencies on a mainstream level. For this purpose, they are aiming to launch a debit card that would let the locals pay using cryptocurrencies.

Using the debit cards issued by Visa in collaboration with FTX, the users would be able to pay for services and goods in cryptocurrencies. The best part about using these cards is that the users would incur “zero fees” for transactions.

In addition to processing transactions without any fees, the users would incur no ownership fee for the debit cards they hold. Visa has already made the information public through its website.

Sam Bankman-Fried Touted FTX Debit Cards

Sam Bankman-Fried, the founder of the FTX exchange also made a major announcement for the cryptocurrency users and the locals.

Bankman Fried has announced that with the launch of the Visa debit cards, FTX is also aiming to do the same. They will also be unveiling their own debit cards for their users that would be powered by Visa.

According to the founder of FTX, it was very important that they partnered with a traditional payments services provider to offer crypto payment services to the locals.

He also had the Lightning Network under consideration, which is powered by the Bitcoin blockchain but did not go for it. Going with the Lightning Network would kill the main purpose of bringing crypto to the mainstream and traditional finance sector.

FTX Token Recorded a Surge

After the announcement of the new debit cards, the trading price of the FTX token has jumped significantly. FTX token, the native token issued by the FTX exchange has recorded a 7% surge in value.

At the time of writing, the trading price of the FTX token is $25.62. Despite hitting a strong rally in the past 24 hours, the FTX token is miles away from reaching its all-time high which was almost $80.

People wanting to use the Visa debit card for crypto payments can check the company’s website to check the list of countries where the service would be made available.