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 in the world. The new partnership means that Wirex will be able to provide crypto card services for the APAC and UK markets.
Wirex collaborates with Visa to expand into new markets
Wirex, a London-based payments and cryptocurrency company, has reached a long-term service agreement with credit card giant Visa. With this move, qualified as a milestone by the company, Wirex will now be able to reach customers in new markets, targeting regions such as APAC and the UK.
The company, which provides card services linked to cryptocurrencies, will be able to reach customers in more than 40 countries through this partnership. The company claims to have been the first to bring this type of service to mainstream audiences in 2015, also partnering with Visa. The partnership builds on previous efforts by Wirex, which became a core member of Visa in Europe in 2020, and raised $15 million in a Series B funding round in 2022.
Matt WoodVisa’s Head of Digital Partnerships Asia Pacific region, reported:
Visa wants to offer consumers more payment options by connecting digital currencies to our network of banks and merchants. We are excited that Wirex is expanding its focus into the Asia Pacific region, making it simple and easy for people to spend their crypto balance at the millions of Visa-accepting merchants in the region.
The goal of this partnership is to bring more crypto-related payment methods to more markets around the world, allowing digital natives to pay with crypto even at legacy merchants. Wirex card customers can use their cryptocurrency to pay at the 80 million Visa locations worldwide, and get 8% cashback at the same time.
The United States is one of the markets that will support significant collaboration thanks to this agreement, ostensibly allowing the company to better compete with other crypto card companies in the region. Svyatoslav JaralThe Wirex APAC Regional Managing Director applauded Visa’s role in bringing crypto opportunities to more countries. He said:
It is great that we are strengthening our partnership with Visa, which has played an important role in allowing us to bridge the gap between the traditional and digital economies.
Wirex also announced that it will complete another Australia-related card partnership in the coming weeks, expanding its global services.
What do you think of the partnership between Visa and Wirex? Tell us in the comments section below.
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