Wirex Launches Crypto-Friendly Business Account

Wirex, a hybrid personal finance platform that merges blockchain tech and traditional finance, announced last week the launch of its new cryptocurrency-friendly business account. This news comes just a little over six months after Wirex received its e-money license from the UK Financial Conduct Authority (FCA).  The company revealed:

“In February 2019, we launched the world’s first ever FCA-licenced, crypto-friendly business account. Our goal for Wirex Business was to disrupt the way that businesses and consumers send and receive payments around the globe. To this end, our new product allows registered business users to send and receive payments free of charge through Wirex. It’s also easy to locate other users on the platform and save their details for later transactions. This counterparties feature opens up novel use cases; giving users the ability to make their account details and wallet addresses public allows invoices or employee salaries to be settled quickly and efficiently.”

Wirex also reported that its business product will enable it to assist the growth of crypto-friendly and non-crypto businesses that have previously been stifled by existing market restrictions. The company added:

“We’ve even had interest from non-crypto companies across industries like a manufacturing, food & beverages and agriculture. With 2116 cryptocurrencies already in circulation, this universal demand signals a significant opportunity and a clear shift towards a token economy, with more and more businesses considering alternative options for managing company funds.”

Founded in 2014, Wirex is a UK-based, FCA-licenced global leader in digital money solutions for individuals and businesses. Wirex’s reported its platform is built on state-of-the-art technology that integrates with cryptocurrency blockchains[BL1]  to facilitate the everyday spending of both crypto and traditional currencies. The company noted its platform currently supports Bitcoin, Litecoin, XRP, Ethereum, Waves, Wollo, DAI, NANO GBP, EUR and USD, with many more in the pipeline

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