More than just a partnership: Visa and FTX want to bring cryptocurrency into Main Street 💳; How much is a Metaverse user worth? 🤔; DeFi startup that wants to become the “BlackRock of Web3” 👀

FinTech is Eating the World, 11 October

Hey Everyone,

Happy Tuesday! Yesterday’s issue was hot, but today’s one - oh boy… We are going to look at why Visa and FTX deal is more than just a partnership (they want to bring crypto mainstream & it’s never been done before), how much is a metaverse user worth (you will be shocked, I promise!), and DeFi startup that wants to become the BlackRock of Web3 (definitely worth keeping an eye on them!). Let’s jump straight into the amazing stuff:

More than just a partnership: Visa and FTX want to bring cryptocurrency into Main Street 💳

The deal 🤝 Massively growing crypto exchange FTX teamed up with payments giant Visa V 0.00%↑ to roll out crypto debit cards. The partnership will see the exchange release crypto debit cards in 40 countries with a focus on Latin America, Europe, and Asia.

More on this 👉 The cards (already available in the US) will link directly to a user’s FTX Crypto account to allow customers to spend Crypto without moving assets off the exchange. Also, the move would allow FTX users to pay for goods and services using debit cards that boast “zero fees.” Plus, card ownership is free, according to the company website.

FTT, the native token of the crypto exchange FTX, surged 7% after the news went public.

Why does this matter? 🤔 The surge in FTT isn’t particularly surprising given the fact that although most of the biggest crypto exchanges already have a card, FTX and Visa is a different ballgame. In fact, what they are trying to do hasn’t been done before and it’s a solid step in bringing cryptocurrency one step closer to Main Street.

Here’s more on that + the takeaway: