• Wirex and Visa have expanded their partnership to 40 countries including the U.K. and APAC.
• This expansion allows Wirex to directly issue crypto-enabled debit and prepaid cards in those countries.
• Matt Wood, Head of Digital Partnerships at Visa, said they want to bring more payment options to consumers by connecting digital currencies with their network of banks and merchants.
Wirex and Visa Expand Partnership
FinanceCrypto payments firm Wirex and Visa have announced an extended global partnership that will expand its footprint in Asia-Pacific (APAC) and the U.K., according to a Monday announcement. With this expansion, Wirex, which has over 5 million customers, will now be able to directly issue crypto-enabled debit and prepaid cards in over 40 countries.
Existing Relationship between Wirex and Visa
In 2015, according to Wirex, it became the first company in the world to develop a crypto-enabled card that allowed users to buy or sell multiple traditional and cryptocurrencies. Additionally, the two companies’ existing relationship includes a crypto-linked visa debit card in the U.S., as well as Wirex holding principal membership status with Visa in Europe.
Visa’s Intentions for Crypto Payment Options
Matt Wood, Head of Digital Partnerships at Visa’s Asia Pacific division noted that “Visa wants to bring more payment options to consumers by connecting digital currencies with our network of banks and merchants.”
Wirex’s UK Disengagement
The London-based firm had previously withdrawn from the U.K Financial Conduct Authority’s temporary registration regime ahead of a deadline requiring full registration which meant it would serve U.K customers through a subsidiary licensed in Croatia instead..
Conclusion
This partnership between Wirex ansd Visa is an important step towards providing more payment options for cryptocurrency users around the world by expanding access across 40 countries globally including APAC and UK regions