Visa Partners With Wirex To Issue Crypto Debit Cards

February 13, 2023 4:45 pm Comments

Crypto adoption is continuing to make progress as it becomes easier and and more convenient to use digital assets for everyday transactions.

Just recently, Visa has announced a new partnership with a crypto payments company called Wirex in order to issue crypto debit cards.

These debit cards will be available in over 40 countries and lets users spend their crypto directly by loading their digital assets on a prepaid card.

The cards are then extremely easy to use as they operate the same as any other Visa card which is accepted by the majority of merchants worldwide.

This will also tremendously increase the customer base of Wirex and expand the company’s services globally. reports:

The recently announced Visa and Wirex partnership is a massive development, as the two are working to issue crypto debit cards in over 40 countries. Specifically, the press release has stated that the collaboration allows expansion into various markets and countries.

Moreover, the press release noted, “Membership of Visa enables Wirex to offer new innovative products to utilize crypto in the everyday, improve user experience, and pilot new blockchain initiatives.”

A London-based crypto firm, Wirex already supports a user base of over 5 million customers.

Now, with reported “rapid growth in APAC,” a partnership with Visa will continue its pursuit of widespread digital asset adoption. It is empowering Wirex to expand its potential customer base through its proven service.

Wirex is not a new crypto payments company as the company has been around since 2015 which is actually quite old for the crypto industry.

Through this partnership, it is expected that its user base will definitely start to grow beyond the existing 5 million customers that it has, especially when it enters new regions that it was not in before.

Crypto investors also now have multiple options that allow them to directly spend their digital assets at most merchants and makes holding crypto a lot more useful.

There are a few other options besides the Wirex debit card which are also powered by the Visa payment network which indicates that Visa is one of the traditional financial giants that are helping to innovate with the new digital assets industry.

Perhaps these crypto debit cards will one day surpass all other forms of debit cards for third world countries that have issues with inflation.

SeekingAlpha shares:

Cryptocurrency payments platform Wirex on Monday announced a long-term strategic global partnership with Visa (NYSE:V) that will allow it to directly issue crypto-enabled debit and prepaid cards to over 40 countries in APAC and the U.K.

The companies will also collaborate further in major markets, including Europe and the U.S.
Wirex will continue working closely with Visa to roll out its card program worldwide.

The platform will announce another significant partnership in Australia in the coming weeks.
Wirex has over 5M users, with its largest customer-base in the U.K.

“Visa wants to bring more payment options to consumers by connecting digital currencies with our network of banks and merchants,” said Matt Wood, head of Digital Partnerships, Asia Pacific, Visa (V).

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