Visa terminates agreements with FTX, a debt-ridden cryptocurrency exchange, for global debit cards

Visa announced on Sunday that it was ending its global credit card agreements with the now-defunct FTX cryptocurrency exchange.

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The largest payment processor in the world, Visa Inc., announced on Sunday that it was terminating its global credit card relationships with the defunct cryptocurrency exchange FTX.

A Visa representative told Reuters, “The situation with FTX is regrettable, and we are monitoring developments closely.”

“We have terminated our global agreements with FTX, and their issuer is winding down its U.S. debit card operation” he added.

Early in October, FTX and Visa announced an expanded partnership, outlining plans to roll out account-linked Visa debit cards in 40 new nations.