A popular cryptocurrency payments app, Wirex, recently announced signing a long-term global partnership with Visa. The move will allow it to expand its reach to a total of 40 new countries, including the UK, as well as the Asia-Pacific region.
The deal is a long-term global partnership that is building on the two firms’ existing relationship, which started with a crypto-linked Visa debit card that Wirex has already issued in the US. Apart from that, the company holds principal membership status with the credit card issuer in Europe.
We’re very pleased to announce our long-term strategic global partnership with @Visa! This allows us to innovate further and collaborate in major markets across the globe.
— Wirex (@wirexapp) February 13, 2023
Wirex claims that it was the first firm ever to offer a crypto-enabled debit card, all the way back in 2015. While crypto cards are fairly common today, and many different companies have them, this was quite an achievement 8 years ago, and it helped put Wirex on the map. It allowed users to buy and sell a number of crypto and traditional currencies.
Visa launching #Bitcoin and crypto cards in the UK and 40 other countries alongside Wirex.
That´s some positive and bullish news fundamentally.
— Michaël van de Poppe (@CryptoMichNL) February 13, 2023
With that in mind, it is safe to say that the two firms have a long history, and ever since the original partnership, Wirex has been working on expanding its brand, building a reputation as a reliable and safe company, and upgrading its service. Now, it is ready to physically expand its reach, and the upgraded partnership deal will allow it to directly issue crypto-enabled debit and prepaid cards to over 40 countries.
Wirex and Visa are continuing a fruitful partnership
The London-based company already has over 5 million users, and the majority of its customer base is in the UK. However, despite this, the firm had to withdraw from the UK’s Financial Conduct Authority’s (FCA) temporary registration regime. This happened right before the deadline to obtain full registration, so from that point on, the firm has served UK-based users through its subsidiary, based and licensed in Croatia.
Visa’s Head of Digital Partnerships for the Asia-Pacific region, Matt Wood, commented on the new development by saying that “Visa wants to bring more payment options to consumers by connecting digital currencies with our network of banks and merchants.”
Meanwhile, Svyatoslav Garal, Wirex APAC’s Regional Managing Director, said that it is great for the company to strengthen its partnership with Visa, as it played an important role in helping Wirex bridge the gap between digital and traditional economies. Visa has proven its commitment to safety, security, and innovation, and this will help both firms in creating the next-gen app and card.
Matt Wood, the Head of Digital Partnerships, added that Visa wants to bring additional payment options to customers, and it is exciting that Wirex is expanding its focus on Asia Pacific, making it easy and seamless for people to spend their coins at millions of merchants.
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