1. The partnership footprint will now include the United Kingdom and APAC.
2. This alliance between Wirex and Visa will strengthen the relationship between the companies and their users.
3. It can also use the crypto debit and prepaid cards provided by Wirex in more than 40 countries.

According to a press release by Wirex on Monday, the cryptocurrency payments app has formed a long-term partnership with Visa (V) to strengthen its position in the UK and Asia Pacific (APAC).

In addition to strengthening the existing alliance between Wirex and Visa, the news also enhances the relationship between the two companies since Wirex holds a primary membership in Europe and a crypto-linked Visa debit card in the United States.

Having claimed to be the first company in the world to create a crypto-enabled card in 2015, Wirex claims to have been the first company to allow consumers to buy and trade various conventional currencies and cryptocurrencies.

It is expected that over 5 million customers of Wirex’s London-based business will now be able to issue their crypto-enabled prepaid and debit cards immediately in over 40 countries worldwide via this expansion.

Despite Wirex’s client base mainly being in the United Kingdom, the company decided to withdraw from the FCA’s interim registration system. The company faces challenges even though most of its clients are there. In the end, it would have to rely on the Croatians.

Founder and CEO of Visa, Matt Wood, said the company is looking forward to bringing more payment options to consumers. They claim that it can only happen by integrating our banks, merchants, and digital currency networks.

Posted Date: May 26, 2023