Crypto payment firm Wirex gets principal membership from Visa to issue cards autonomously.

According to the announcement, crypto platform Wirex has been added to the European network of payment giant Visa as a member after long-lasting cooperation, whose customer base has over 3 million in the APAC and EEA countries. The company enables its users to transfer crypto and fiat currencies globally through the platform. Wirex has become the second crypto company with the Visa membership after Coinbase to get such kind of membership, although this is not the first payment giant the London-based firm partnered with.

 

Crypto firm Wirex also teamed up with Mastercard.

Earlier this year, the crypto company Wirex also teamed up with Mastercard to directly secure a principal membership to issue cards supporting both crypto and fiat currencies. The latest figures revealed by the crypto payment firm show that the company had experienced a 271% increase in the number of crypto exchanges on their platform compared to December 2019. Wirex also launched its first crypto-enabled debit card in 2014. Mainstream adoption of crypto has increased this year amid the ongoing global pandemic.

 

The crypto firm plans to launch a single currency Visa card.

Cuy Sheffield, the senior director and head of the cryptocurrency at Visa, commented on the announcement that digital currencies have the potential to extend the value of digital payments to a greater number of people and places. “We’re excited to work with innovative Fintech’s like Wirex and enable their customers to use digital currencies at more than 61 million merchants on the Visa network,” he added. Pavel Matveev, CEO and co-founder of Wirex, believes that achieving this principal membership from Visa paves the road to catch more opportunities to continue developing “a revolutionary product.”

ADVERTISEMENT
Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

Leave a reply

Please enter your comment!
Please enter your name here