Cryptocurrencies

Mastercard green light to Wirex Bitcoin (BTC) payment cards – Cryptocurrencies

Credit Cards: Wild Cards for the Adoption of Bitcoin and Cryptocurrency? Mastercard is partnering with Wirex, a collaboration that extends crypto payment networks. Mastercard: we know! Let’s lift the veil on Wirex, who moved to the other side in order to develop.


Wirex accelerates with Mastercard

MasterCard recently announced that the company Wirex specialized in digital payments and based in London, had integrated his program Accelerate.

This program allows start-ups to obtain the necessary support to develop their business and, to continue their international expansion. Partner companies benefit from the technology of MasterCard and its expertise in cybersecurity.

MasterCard had facilitated access to the program Accelerate ; however, candidate companies must adhere to the fundamental principles of the company: guaranteeing the security and confidentiality of user data, compliance with the laws – such as those relating to money laundering – the implementation of equitable conditions for stakeholders – financial institutions, traders, etc.

The head of the blockchain and digital assets division of MasterCard, Raj dhamoradan, explained that the growth of the market around payment with Bitcoin and cryptocurrencies, represents an opportunity for the company which wishes to participate in these developments.

Wirex: the instant crypto to fiat card

Wirex has a license from the Financial Conduct Authority which allows it to issue cards in Europe. Wirex credit cards allow their holders to instantly convert their cryptocurrencies into fiat currencies, at any point of sale MasterCard.

Until very recently, the credit card Wirex belonged to the network Visa, the main competitor of MasterCard. The card was issued by the German company Wirecard.

The financial scandal in which was involved Wirecard and which led to the bankruptcy and then the dissolution of the latter, however hampered the activities of companies such as Wirex.

The CEO of Wirex, Pavel Matveev, said the partnership once again demonstrates the growing public interest in Bitcoin and cryptocurrencies.

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Will this decade see the gradual disappearance of fiat credit cards in favor of crypto credit cards? Visa and Mastercard understood that it was time to go crypto, if they didn’t want to be a thing of the past soon.

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