Wirex, a crypto-payment platform in London, can now publish Visa accounts and process transactions independently, as the company becomes a leading member of the payments giant.
Cryxto Payment Platform Wirex Gets Prime Membership Of The Visa To Autonomous Issue Cards
According to the announcement, Wirex has been added to the European Visa network as a member after a longstanding collaboration, whose customer base has over 3 million in APAC and EEA countries. The company enables its users to transfer crypto and fiat currencies globally through the platform.
With membership, Wirex is the second crypto company after Coinbase to have such membership, although it is not the first paying giant the London-based company has worked with in partnership.
On July 20, 2020, the company teamed up with Mastercard to secure a major membership directly to issue cards that support crypto and fiat funds.
The latest figures revealed by Wirex show that the company experienced a 271% increase in the number of crypto exchanges on its platform compared to December 2019. It also launched its first crypto-enabled debit card at 2014.
Cryptocurrencies and Giant Payments
Cuy Sheffield, senior director and head of cryptocurrency at Visa, commented on the announcement:
Digital currencies have the potential to extend the value of digital payments to a greater number of people and places. We are excited to work with innovative Fintech like Wirex, and enable their customers to use digital currency on over 61 million merchants on the Visa network.
In addition, Pavel Matveev, CEO and co-founder of Wirex, believes that achieving this top Visa membership paves the way for more opportunities to continue developing “revolutionary products.”
Wirex is also preparing the ground for landing in the US market, as they are about to launch a single currency Visa card. However, Wirex is not the only one offering bitcoin-based cards in the crypto arena, as exchanges like Binance and Coinbase offer such products.
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