Visa ends global debit card agreements with collapsed crypto firm FTX: Report

FTX and Visa had announced an expanded partnership in early October, including plans to introduce account-linked Visa debit cards in 40 new countries.

Visa Inc, the world's largest payments processor, said on Sunday it was severing its global credit card agreements with collapsed crypto exchange FTX.

Bahamas-based FTX filed for bankruptcy on Friday after a rush of customer withdrawals earlier this week (REUTERS)

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

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

FTX and Visa had announced an expanded partnership in early October, including plans to introduce account-linked Visa debit cards in 40 new countries.