Crypto FTX higher after partnership with VISA 📈

The FTX cryptocurrency exchange owned by billionaire Sam Bankman-Fried is experiencing heightened volatility today in the wake of Visa's (V.US) new agreement with the digital asset exchange. The blockchain world is gradually strengthening its relationship with global payment networks and the financial industry:

• The Wall Street payments giant is expanding its influence in the cryptocurrency industry, recall - Visa also has a partnership with the cryptocurrency exchange, Binance. American Express also recently indicated that it is exploring linking its cards to stablecoins reflecting the price of the US dollar;
• Visa in conjunction with FTX will offer cryptocurrency debit cards in 40 countries, primarily in Europe, Asia and Latin America. The debit cards will be directly linked to the user's account on the FTX exchange, from where the corresponding resources will be drawn depending on the payment, customers will not have to withdraw them from the exchange to external wallets;
• Visa's CFO, Vasant Prabhu, in an interview with CNBC, stressed that despite the drop in cryptocurrency prices, there is still a strong interest in cryptocurrency payments. According to FTX's Bankman-Fried, cryptocurrency adoption may accelerate especially in emerging markets suffering from inflation of several tens of percent (Argentina, Turkey) and those where confidence in the banking sector is particularly low or there is no adequate financial infrastructure.

FTX cryptocurrency chart, H1 interval. The price of the cryptocurrency has bounced off the SMA200 and continues to rise. We can expect higher volatility after the NFP reading in the US, which will be known as early as 2:30 p.m. A higher-than-expected reading from the labor market may cool euphoric sentiment. Source: xStation5