FTX – among the globally top-tier crypto exchange platforms – has reportedly forged an alliance with payments heavyweight Visa to introduce debit cards across 40 nations throughout the globe.

Specifically, the recently surfaced breaking news has reportedly helped the FTX token experience a more than 7% spike, along with the obvious fact of simplifying the concept of spending crypto. 

The initiative would reportedly make it possible for FTX users to pay for goods and services using debit cards that boast “zero fees.” Moreover, card ownership comes free-of-charge, as revealed via the firm’s website.

Sam Bankman-Fried – among the top influential individuals throughout the crypto scene – has reportedly been gathering a reputation for his desire to unveil an FTX debit card. 

His firm’s decision to team up with legacy payment rails – contrasting to other crypto payment rails like the Lightning Network – is reportedly in line with his perspectives regarding the unlikelihood of the future of Bitcoin payment. 

The FTX token, the native cryptocurrency of the FTX trading platform, underwent a 7% surge when the news came out, achieving highs of $25.62. The token’s all-time high is some way off, however, at almost $80.

As for Visa, the development would be a worthy response to rival Mastercard’s recent footprints across the crypto scene. Chief financial officer Vasant Prabhu said “Even though values have come down, there’s still steady interest in crypto,” referring to the 2022 crypto bear market.