On Sunday, Visa Inc announced the termination of its global credit card agreements with the crypto exchange FTX. It comes after FTX went defunct. The 2 firms had earlier declared an expanded partnership to launch account-linked Visa debit cards in 40 countries.

                   

Visa Terminates Global Debit Card Agreements With Debt-Ridden Crypto Exchange FTX

WHAT?

On Sunday, Visa Inc announced the termination of its global credit card agreements with the crypto exchange FTX.

WHY?

It comes after FTX went defunct. "The situation with FTX is unfortunate and we are monitoring developments closely," a Visa spokesperson told Reuters.

MORE

"We have terminated our global agreements with FTX and their U.S. debit card program is being wound down by their issuer." The 2 firms had earlier declared an expanded partnership to launch account-linked Visa debit cards in 40 countries.