In Brief:
- FTX is getting ready to launch a Visa debit card to allow users to spend their crypto balances.
- Users’ crypto balances in the FTX account will be automatically exchanged at the point of sale.
- As of now FTX users have no details pertaining to the delivery of cards.
The third-largest cryptocurrency exchange in the world, FTX, gears up to launch a Visa debit card for users to spend their crypto balances.
FTX users can now apply for the debit card by joining a waiting list.
The announcement makes no mention of when the cards will be delivered to FTX users.
The FTX Visa Card is entirely free and there will be no administrative or processing fees charged by FTX.
Users’ crypto balances in the FTX account will be automatically exchanged at the point of sale, allowing them to spend their crypto anywhere Visa is accepted.
All the users will be notified by FTX when the card becomes available in their region so they can join the waitlist.
FTX just joined the league of a lot of crypto firms who already launched crypto-linked cards. Last month cryptocurrency wallet maker, Ledger, announced the launch of a debit card through which customers will be able to use their crypto directly. Bitcoin, ETH, stablecoin USDC, and Tether are all supported on the Crypto Life(CL) card.
