Wirex achieves principal membership in Visa Europe


Payments platform Wirex, has completed Visa’s FinTech Fast Track Program, and is now allowed to issue Visa cards and apply for additional licenses, according to a press release.

Wirex already offers their services to over three million people across the European Economic Area and Asia-Pacific regions, and has experienced a 271% increase in the number of crypto exchanges on their platform compared to this time last year.

Wirex and Visa have previously worked together in 2014 to ensure Wirex was the first company in the world to issue a contactless crypto-enabled debit card. The card enables customers to seamlessly spend up to 20 traditional and cryptocurrencies at over 61 million locations globally.

Linked up to a next-generation app, the company was also the first to develop a cryptocurrency rewards scheme, Cryptobac, that rewards users up to 1.5% in bitcoin for any purchases made with their debit card.

“It’s been our core goal to unite the traditional and digital economies, and collaborations with trusted global payments companies such as Visa are making this possible by providing straight and cost-effective solutions for utilizing crypto in the everyday. It’s no easy feat to achieve principal membership and [it]will present numerous opportunities to continue developing a revolutionary product,” Pavel Matveev, CEO and Co-Founder of Wirex said in the release.