UK Payments Company Wirex Becomes Visa Global Partner, Extends Crypto Card Program Reach to Over 40 Countries
Wirex, a London-based digital payments company, has announced that it has become a global Visa partner, which will allow the company to provide its card services to more markets around the world. The new partnership means 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 payment and cryptocurrency company based in London, has entered into a long-term service agreement with credit card giant Visa. With this move, which the company sees as a milestone, Wirex will now be able to reach customers in new markets, targeting areas such as Asian-Pacific area and UK
Through this partnership, the cryptocurrency-pegged card services company will be able to reach customers in more than 40 countries. The company claims that in 2015 it was the first to offer this type of service to a wide audience, including in partnership with Visa. The partnership builds on previous efforts by Wirex, which became Visa’s main member in Europe in 2020, and raised $15 million Series B funding round in 2022.
Matt WoodHead of Digital Partnerships at Visa Asian-Pacific area, declared:
Visa wants to provide consumers with more payment options by connecting digital currencies to our network of banks and merchants. We are excited that Wirex is expanding its focus to the Asia-Pacific region, allowing people to easily and seamlessly spend their crypto balance at the millions of merchants that accept Visa cards in the region.
The goal of this partnership is to bring more cryptocurrency-related payment options to more markets around the world, allowing digital natives to pay with crypto even at traditional merchants. Wirex card customers can use their cryptocurrencies to pay at 80 million Visa-accepting locations around the world, while earning 8% cashback.
The US is one of the markets that will have a major collaboration thanks to this agreement, ostensibly allowing the company to better compete with other cryptocurrency card companies in the area. Svyatoslav Garal, Regional Managing Director of Wirex APAC, praised Visa’s role in bringing crypto opportunities to more countries. He decreed:
It is a great pleasure to strengthen our partnership with Visa, which has been instrumental in bridging the gap between traditional and digital economies.
Wirex also announced that it will be ending another card partnership related to Australia in the coming weeks, expanding its global footprint.
What do you think of the partnership between Visa and Wirex? tell us in the comments section below.
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