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Wirex, a London-based digital payments company, has announced that it has become a global partner of Visa, to allow 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, a payments and crypto company based in London, has entered into a long-term service agreement with credit card giant Visa. With this move, qualified as a significant milestone by the company, Wirex will now be able to reach customers in new markets, targeting areas such as APAC and the UK
The company, which offers cryptocurrency-linked card services, will be able to reach customers in over 40 countries with this partnership. The company claims it was the first to provide this type of service to a mainstream audience 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 raised $15 million in its Series B funding round in 2022.
Matt Woodhead of digital partnerships in Visa i Asia-Pacific region, stated:
Visa wants to bring more payment options to consumers by connecting digital currencies to our network of banks and merchants. We are excited that Wirex is expanding its focus on the Asia-Pacific region, making it easy and seamless for people to use their crypto balance at the millions of merchants that accept Visa in the region.
The goal of this partnership is to bring more cryptocurrency-related means of payment to more markets around the world, allowing digital natives to pay with crypto even at legacy merchants. Customers of Wirex cards can use their cryptocurrencies to pay at 80 million places where Visa is accepted worldwide, and at the same time receive 8% cashback.
The US is one of the markets that will support major collaboration thanks to this deal, which apparently allows the company to better compete with other crypto 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 stated:
It’s great to strengthen our partnership with Visa, who have played an important role in allowing us to bridge the gap between the traditional and digital economy.
Wirex also announced that it would complete a new card partnership related to Australia 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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