Wirex, a London-based digital payments company, has announced that it has become a global partner of Visa, to enable the company to bring its card services to more markets around the world. The new partnership means that Wirex will be able to offer its crypto card services to the APAC and UK markets.
Wirex partners with Visa to expand into new markets
Wirex, a London-based cryptocurrency and payments company, has entered into a long-term service agreement with credit card giant Visa. With this move, described as a major milestone by the company, Wirex will now be able to reach customers in new markets, focusing on areas such as APAC and the UK
The company, which offers cryptocurrency-linked card services, will be able to reach customers in more than 40 countries with this partnership. The company claims it was the first to bring this type of service to the general public in 2015, also in partnership with Visa. The partnership builds on previous efforts by Wirex, which became a Principal Member of Visa in Europe in 2020, and increase $15 million in its Series B funding round in 2022.
Matte Wooddirector of digital partnerships for Visa in the Asia Pacific Region, fixed:
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 its focus into Asia Pacific, making it easy and seamless for people to spend their cryptocurrency balance at the millions of Visa-accepting merchants in the region.
cryptocurrency payments
The goal of this partnership is to bring more cryptocurrency-linked payment methods to more markets around the world, enabling digital natives to pay with cryptocurrency even at legacy merchants. Wirex card customers can use their cryptocurrency to pay at 80 million Visa-accepted places around the world, receiving 8% cash back at the same time.
The US is one of the markets that will support further collaboration thanks to this deal, which will apparently allow the company to better compete with other crypto card companies in the area. Sviatoslav Garal, Regional Managing Director of Wirex APAC, praised Visa’s role in bringing crypto opportunities to more countries. He stated:
It is great to strengthen our partnership with Visa, which has played an important role in enabling us to bridge the gap between the traditional and digital economies.
Wirex also announced that it would complete another Australia-related card partnership in the coming weeks, expanding its global service footprint.
What do you think of the partnership between Visa and Wirex? tell us in the comments section below.
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