Visa terminates global debit card agreements with FTX

FTX and Visa had announced an expanded partnership in early October.

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Visa Inc, the world's largest payments processor, said on Sunday

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it was severing its global credit card agreements with collapsed crypto exchange FTX.

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

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"We have terminated our global agreements with FTX and their U.S. debit card program is being wound down by their issuer."

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FTX and Visa had announced an expanded partnership in early October

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including plans to introduce account-linked Visa debit cards in 40 new countries.

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