Sam Bankman-Fried’s crypto exchange has officially announced the FTX Card which will allow users to easily spend their digital assets.
FTX continues to expand its dominance in the crypto industry, with multiple partnership deals in the past couple of months. Just a few hours ago, one of the largest cryptocurrency exchanges FTX announced the launch of its Visa Card for crypto and fiat payments.
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Owners of The FTX Card will be eligible to make payments worldwide. Transactions will be completely free, without any extra administrative or processing costs, but some third-party fees may apply.
Interestingly enough, FTX Visa Card users won’t need to convert their crypto to pay in government-issued currency, because the card will automatically exchange any digital assets for the right amount of fiat currency.
More than that, the card will be available at any time of the day, while the funds will be protected by FTX’s "industry-leading security standards."
At the moment, FTX offers customers to join the waiting list, and the exchange will issue details via email when the Visa Card is available in certain regions. Currently, there has not been any announcement on when exactly the card will be available.
This wasn’t the first time that a cryptocurrency platform explored payments via card. A few days ago, Coinbase announced its partnership with Mastercard so users can purchase NFTs with their credit or debit cards.
