Wirex partners up with Visa to launch crypto-enabled cards
The Wirex and VISA partnership will enable residents of more than 40 countries to use crypto-based debit and prepaid cards to make in-store or online purchases. Such cooperation will strengthen Wirex's position as a worldwide fintech company.
The well-known European fintech startup and neobank Wirex, promoting cryptocurrency payments, signed a long-term strategic global partnership with VISA International Payment System. Following this, Wirex received the status of a VISA partner in the Asia-Pacific region (APAC) and Great Britain, allowing it to issue crypto-enabled debit, prepaid and virtual cards in 40+ countries.
The agreement between Wirex and Visa will contribute to further cooperation in the main markets, including the Asia-Pacific region, the UK, Europe, and the USA. Thus, Wirex got the opportunity to offer its products aimed at popularizing the use of cryptocurrency to a broader audience.
The new card announcement
Based in London, Wirex operates in more than 130 countries with over 5 million registered users. Most Wirex customers are in the UK, where the startup was launched. Still, the rapid growth of the client base is also observed in APAC and the USA. In November 2022, the company became a finalist for the SFF Global FinTech Awards. The jury praised the company's achievements and contribution to the crypto adoption and the introduction of instant non-cash digital asset transfers.
In 2015, Wirex became the first fintech company in the world to issue a crypto-enabled card. Using Wirex Card, users can buy, store, exchange, and sell digital assets. Furthermore, they also can make purchases with crypto in more than 80 million outlets that accept VISA cards. Wirex customers will also get low commissions on currencies and exclusive rates through exchanges and the OTC market. Additionally, Wirex customers can withdraw cash at ATMs without a commission, exchange fiat and crypto for free, and earn up to 8% Cryptoback™ rewards on every crypto spending. There is no monthly account maintenance fee for Wirex сard holders.
The client can choose the card type: physical/plastic or virtual for online shopping.
You can order VISA cryptocurrency cards from Wirex on their official website.
Svyatoslav Garal, the regional managing director of Wirex APAC, noted:
Svyatoslav Garal, the regional managing director of Wirex APAC, noted:
It's great to strengthen our partnership with Visa, who have played an important role in allowing us to bridge the gap between the traditional and digital economies. Visa's proven commitment to safety, security and innovation will help us to continue developing a next-generation app and card.
Matt Wood, the Asia Pacific Head of Digital and Fintech Partnerships at Visa, commented on this event:
Visa wants to bring more payment options to consumers by connecting digital currencies with our network of banks and merchants. We're excited that Wirex is expanding their focus on APAC, making it easy and seamless for people to spend their crypto balance at the millions of merchants that accept Visa in the region.
Wirex will continue working closely with Visa to expand services and roll out their card program worldwide. In the coming weeks, Wirex will announce another significant partnership for card issuance in Australia. We are waiting for an official announcement.
