Wirex is a London-based crypto payment processor and is regulated by the U.K.’s Financial Conduct Authority, with a license to issue crypto cards in Europe. The crypto company became the first platform in the industry to be granted a Mastercard principal partnership. The multi-currency Wirex Card will be supported by Mastercard and linked to 19 crypto and fiat currency accounts in the Wirex app. However, an official release date has not yet been announced.
Wirex is upgrading its existing “Cryptoback” rewards program.
In a bid to encourage the use of cryptocurrency for everyday payments, Wirex is also upgrading its existing “Cryptoback” rewards program, which had until now rewarded users with up to 1.5% back in Bitcoin for each in-store transaction. The rewards will be up to 2% online and in-store, with up to 6 percent rewards on customers’ native Wirex Token balance annually. The crypto company is also rolling out several other new features, building on a partnership with payments solution company LHV. In the European Economic Area, the new features include support for five new currencies: the Coration Kuna, Czech koruna, Polish złoty, Romanian leu, and Hungarian forint.
Binance also launched its Swipe-powered crypto card in Europe.
As reported earlier, the crypto exchange giant Binance revealed that its Binance Visa Card is now available throughout the European Economic Area. The rollout of the Binance card was initially announced in July this year. Crypto cards allow users to preload their accounts using supported cryptocurrencies, which are then converted to fiat and deducted from the balance during the time of payment at a retail location. In Binance’s case, the money is taken directly from the user’s trading account. Binance revealed in the announcement that powered by Swipe works like any traditional debit card.