According to an announcement on Monday, Wirex, a cryptocurrency payments app, has entered into a long-term partnership with Visa. This will allow Wirex to expand its presence in Asia-Pacific and the U.K.
This announcement is based on their existing relationship, which includes a Visa debit card in America and Wirex having principal membership status in Europe. Wirex claims that it was the first company to create a crypto-enabled debit card that allows users to purchase and sell both traditional and digital currencies in 2015.
The expansion will allow Wirex, a London-based company with over 5 million customers to issue crypto-enabled debit cards and prepaid cards directly to more than 40 countries.
Although the U.K. is its largest customer, Wirex pulled out of the U.K. Financial Conduct Authority (FCA) temporary registry regime before the deadline to obtain full registration. This meant that Wirex could serve U.K.-based customers through a Croatian subsidiary.
“Visa wants more payment options for consumers by connecting digital currency with our network of banks and merchants,” stated Matt Wood, Head, Digital Partnerships, Asia Pacific Visa.
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