Wirex Becomes Global Partner of Visa, Makes Moves in APAC

Wirex, a crypto payments platform, has signed a long-term strategic global partnership with payments company network, Visa.

This includes “becoming a member of Visa in APAC and the UK that will allow Wirex to directly issue crypto-enabled debit and prepaid cards themselves to over 40 countries.”

The agreement between Wirex and Visa will “support further collaboration in major markets, including APAC, UK, Europe and the USA.”

Membership of Visa “enables Wirex to offer new innovative products to utilize crypto in the everyday, improve user-experience and pilot new blockchain initiatives.”

The news is another milestone for the London-based company “with over 5 million customers.”

Wirex’s largest customer-base is in the UK, “with rapid growth in APAC, having been a finalist for the SFF Global Fintech Awards at the Singapore Fintech Festival in November last year.”

It’s hoped that this partnership “will continue helping them to empower everyone to access the benefits of crypto.”

The announcement “builds on the two companies existing relationship.”

In 2015, Wirex were “the first company in the world to develop a crypto-enabled card, allowing users to buy, hold, exchange, sell multiple traditional and cryptocurrencies, and spend them at over 80 million locations where Visa is accepted.”

Customers benefit “from real-time point-of-sale conversion, exclusive interbank and OTC exchange rates, free international ATM withdrawals, zero monthly fees, free fiat-to-fiat exchanges, and up to 8% Cryptoback™ rewards for every purchase.”

Svyatoslav Garal, Regional Managing Director of Wirex APAC, said:

“It’s great to strengthen our partnership with Visa, who have played an important role in allowing us to bridge the gap between the traditional and digital economies. Visa’s proven commitment to safety, security and innovation will help us to continue developing a next-generation app and card.”

Matt Wood, Head of Digital Partnerships, Asia Pacific, Visa, commented:

“Visa wants to bring more payment options to consumers by connecting digital currencies with our network of banks and merchants. We’re excited that Wirex is expanding their focus on Asia Pacific, making it easy and seamless for people to spend their crypto balance at the millions of merchants that accept Visa in the region.”

Wirex will continue “working closely with Visa to expand services and roll out their card program worldwide.”

In the coming weeks, Wirex will “announce another significant partnership for card issuance in Australia.”

As noted in the update, Wirex is “a worldwide digital payment platform and regulated institution that has forged new rules in the digital payments space.”

In 2015, the firm “developed the world’s first crypto-enabled payment card that gives users the ability to seamlessly spend crypto and traditional currencies in real life.”

Founded in 2014 by CEOs and co-founders Pavel Matveev and Dmitry Lazarichev, Wirex was created “to make the digital economy accessible to everyone.”

With over 5 million customers and rapid expansion “into new territories, including the US, Wirex is uniquely placed to support and promote the mass adoption of a cashless society through creative solutions.”

To reflect the growth of the metaverse, throughout 2021, the company “has continued to expand their offering into the CeFi and DeFi sectors.”

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