Crypto firm Wirex has become the first native company to be able to directly issue payment cards to its users. As a result of a new partnership with the world’s largest payments processor Mastercard.
According to the announcement, MasterCard is expanding its cryptocurrency program, making it simpler and faster for partners to bring secure, compliant payment cards to the market. This move granted crypto firm Wirex principal membership status, which invariably enables it to issue payment cards directly.
— Wirex (@wirexapp) July 20, 2020
The new partnership also assists Wirex’s vision to bring cryptocurrency to the mainstream and to gives the crypto firm opportunity to continue improving its cutting-edge services, offering customers the ability to instantly complete crypto transactions.
Notably, crypto firm Wirex is one of the few crypto-friendly companies that is regulated by the UK’s Financial Conduct Authority (FCA).
Pavel Matveev, CEO, and co-founder of Wirex expressed his excitement with the new partnership, noting Wirex is proud to have become a principal member of Mastercard.
“has always been our vision to empower everyone to enjoy the advantages of a world where all currencies are equal, and this membership is a step in the right direction,” he stated.
MasterCard partnership with crypto firm Wirex to empower users.
Raj Dhamodharan, Executive Vice President, Digital Asset and Blockchain Products and Partnerships, Mastercard in a statement also expressed happiness with the new addition.
According to him, “Our work with Wirex and the wider crypto ecosystem is accelerating innovation and empowering consumers with more choice in the way they pay.”
He further stated that the cryptocurrency community continues to grow, and Mastercard is driving it forward, creating safe and secure experiences for consumers and businesses in today’s digital economy.
Currently, the crypto firm Wirex is serving 3 million customers across 130 countries, and the partnership will give its users the ability to spend in over 54 million locations around the world where Mastercard is accepted.
Also, it’s worth noting that Wirex was the first company in the world to offer a contactless Wirex debit card, bringing cryptocurrency into everyday life by instantly converting it into traditional currency.
Wirex remarkable growth
The crypto firm Wirex has been witnessing rapid growth over the past few months, with successful expansion into the Asia Pacific region market, the release of their native Wirex Token (WXT), and office openings in Japan, Singapore, Atlanta, Dallas, Toronto, and Dublin.
Based in the UK, Crypto firm Wirex also introduced the world’s first bitcoin reward program, Cryptoback, which earns cardholders up to 1.5% back in Bitcoin for every in-store transaction they make.
Wirex also launched its native utility token, WXT, which entitles holders to rewards and incentives such as heavily-discounted fees and higher Cryptoback rewards.
Additionally, Wirex has hinted at plans to begin issuing corporate cards for Wirex Business clients shortly. This will ensure Wirex continues to be relevant in the crypto space and increase the adoption of digital currency as well as make it more accessible for the general market.