Mon, February 06, 2023

How Wirex Wants to Encourage the Use of Cryptocurrency

cryptocurrency coins in a wallet

Cryptocurrencies have the potential to make life easier for millions of people and crypto-related companies should work harder to accomplish this goal. Hopefully, a crypto payment processor regulated by the U.K.’s Financial Conduct Authority wants to encourage the use of cryptocurrency for everyday payments. It is worth mentioning that, Wirex has a license to issue crypto cards in Europe.

Interestingly, it is the first cryptocurrency platform that received a Mastercard principal membership.

Moreover, Wirex will release a multi-currency crypto card with support from Mastercard.

Interestingly, this multi-currency card will be linked to 19 crypto as well as fiat currency accounts in the Wirex app. People should take into account that, an official release date remains unknown.

This is not the end of the story, as Wirex is also upgrading its existing “Cryptoback” rewards program.

In the past, the program used to reward customers with up to 1.5% back in Bitcoin for each in-store transaction.

Nevertheless, Wirex is ready to offer up to 2% when it comes to online and in-store transactions. Also, rewards can reach up to 6% on customers’ native Wirex Token balance annually.

Wirex and new features

Cryptocurrency city in Africa

A London-based crypto payment processor is also introducing several other new features. In the European Economic Area, the new features that are already working include support for five new currencies.

Let’s have a look at the new currencies. The Croatian Kuna, Czech koruna, Polish zloty, Romanian leu, and Hungarian forint.

Earlier this year, Wirex reached an important milestone as the number of active users surpassed 3 million.  Importantly, the crypto payment processor’s service allows users in 130 countries to spend their cryptocurrencies and fiat currencies using an existing dedicated Visa card and mobile app.

As a reminder, Coinbase’s card was the first physical crypto card that appeared in the U.S. Notably, that card supported both Visa and Mastercard payment networks.

Last but not least, Mastercard and Visa continue to establish working relationships with prominent cryptocurrency firms.



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