Cryptos will eventually sweep away the fiats, gradually intruding into their world, while providing a better alternative. Wirex is now a Visa partner. At stake: potential coverage of a network of 61 million traders.
Wirex obtains its entry visa in Visa
According to a press release dated December 22, 2020, Wirex has become one of the main European partners of Visa, after a long period of collaboration.
Wirex allows its users to transfer cryptocurrencies and fiats currencies across the world.
After completing the program Fintech Fast Track, Wirex can now issue cards Visa, sell affiliate products, and apply for additional licenses.
The head of the cryptocurrency department of Visa, Cuy Sheffield, said the company was excited to collaborate with innovative fintechs like Wirex to allow their users to access the merchant network of Visa which has nearly 61 million members.
The CEO of Wirex, Pavel Matveev, believes that becoming a core member of Visa is an essential step to develop new opportunities and create revolutionary products.
Wirex’s multiple partners
Wirex is not in its 1st major partnership. In July 2020, the company also achieved the status of main member of MasterCard, allowing it to issue debit cards to make both fiats and crypto payments.
The platform has also developed a cryptocurrency rewards system called Cryptoback, whereby users can get 1.5% in Bitcoin (BTC) for any purchase made with their card.
Wirex collaborates with the Japanese firm SBI Holdings since 2017. A fundraising campaign carried out in October 2020 enabled Wirex to raise nearly $ 5 million.
With an imminent launch at United States, 2021 could be another successful year for the company.
“Wait a minute, I’ll see how many satoshis I have left on my card”: this phrase could become commonplace for the next generation. It is in the interest of expectant parents to update their lexicon today by incorporating new crypto jargon if they do not want to be called a has-been in 10 years. Visa and Mastercard don’t want to miss the crypto shift. If an open war were to break out between the banks and the cryptosphere, which side would they choose? Their allies will have the cards in hand to win this war and establish their domination over the other for a long time.
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