Wirex Teams up With Visa for Global Expansion of Crypto Payments
Wirex, a popular cryptocurrency payments app, has entered into a long-term global partnership with Visa to expand its reach in the Asia-Pacific and the United Kingdom.
This move builds upon the existing relationship between the two companies, which has seen the creation of a crypto-linked Visa debit card in the United States and Wirex being granted principal membership status with Visa in Europe.
Wirex was the first company in the world to develop a crypto-enabled card that enabled the purchase and sale of multiple cryptocurrencies and traditional currencies, according to their records dating back to 2015.
With this expansion, the London-based Wirex, which boasts a customer base of over 5 million, will now be able to directly issue crypto-enabled debit and prepaid cards to more than 40 countries.
Although its largest customer base is located in the United Kingdom, Wirex had previously withdrawn from the U.K. Financial Conduct Authority’s temporary registration regime prior to obtaining full registration. This allowed them to continue serving U.K.-based customers via a subsidiary licensed in Croatia.
“The goal of Visa is to offer more payment options to consumers by connecting digital currencies with our extensive network of banks and merchants,” said Matt Wood, Head of Digital Partnerships for Asia Pacific at Visa.