Web3 money app, Wirex has expanded its partnership with Visa in a bid to make digital currency use more seamless.
As part of the collaboration, it is launching Wirex Pay, a new payment chain designed to change the way users handle and spend both crypto and traditional currencies. By allowing the user to move between blockchain technology and traditional finance more easily Wirex Pay is aiming to simplify transactions.
Speaking on the deal, Sviatoslav Garal, Global Head of Payments at Wirex, said, “At a time when the financial world is boldly moving towards Web3 and decentralisation, the need for robust solutions for global funds movement remains essential. Key ecosystem players like Visa play a tremendous role in this shift.”
“Partnering with Wirex to help integrate blockchain technology with traditional finance, including the launch of Wirex Pay, aligns closely with our vision for the future of payments while highlighting the importance of collaboration in driving fintech innovation.,” Cuy Sheffield, Head of Crypto at Visa added.
What is Wirex?
Wirex is an innovative app and payment card that allows users to seamlessly send, receive, exchange and spend a range of digital and conventional currencies. As a crypto-native company with Visa’s principal license for card issuance, it is seen as a leader when it comes to integrating blockchain technology with traditional financial systems.
According to the company, when the Wirex card was launched it was the first two-way payment card, seen as more advanced than a regular card because of its ability to convert bitcoin into fiat. This makes it easier for users to keep and use the stronger of the two currencies at any given time. Additionally, the company offer virtual cards that can be used to buy bitcoin and plastic cards can be used to withdraw fiat funds from ATMs.
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