Wirex Announces Plans to Diversify Funding Options for Russian Customers

 

Wirex, a UK-based payments platform, announced on Tuesday it is diversifying its funding options by allowing customers in Russia to fund their accounts by allowing top-ups using domestic bank cards. According to Wirex, users may now link their bank-issued credit or debit card to their Wirex account in order to buy digital currencies through the Wirex platform.

Wirex revealed that by enabling card top-ups, Russian customers may “quickly and easily” purchase cryptocurrencies such as BTC, ETH, LTC, XRP, DAI, and WXT. While sharing more details, Pavel Matveev, Wirex Co-Founder and CEO, stated:

“We are constantly striving to make it easier to our customers to use their cryptocurrencies seamlessly. That’s why we are excited to give users in Russia the ability to load their Wirex accounts using their domestic bank card. It means more option sand more convenience.”

Wirex further noted that the move to diversify funding options is the latest example of its continued product and market innovation.” The platform recently reached a milestone of three million users and will launch services in the US shortly, with expansion into further territories imminent.

Wirex also recently announced it is working closely with the Monetary Authority of Singapore (MAS) in order to acquire a license under the new Payments Services Act. Wirex reported that the license will allow it to continue to provide services in Singapore, including enabling users the ability to buy, hold, exchange, and spend over 150 fiat currencies as well as cryptocurrencies using its app. The company has been given a temporary exemption from holding a PS Act license while it pursues the licensing process.

Dominique Simon, General Counsel at Wirex, explained that Wirex looks forward to being able to apply the same industry-leading standards in Singapore by stating the PS Act is an innovative, forward-thinking regulation that captures the expansive and evolving scope of payment services” calling the Act essential to protect both consumers and operators.

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