UK Payments Company Wirex Becomes Visa Global Partner – Wirex, a London-based payments and cryptocurrency firm, has signed a long-term service agreement with credit card giant Visa. Wirex will now be able to access customers in additional markets, including APAC and the United Kingdom, thanks to this move, which the business describes as a key milestone.
With this partnership, the company, which provides cryptocurrency-linked card services, will be able to reach clients in over 40 countries. The startup claims to have been the first to deliver this type of service to mainstream audiences in 2015, also in partnership with Visa. The partnership builds on Wirex’s previous efforts, which included becoming a Visa primary member in Europe in 2020 and raising $15 million in its Series B fundraising round in 2022.
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Matt Wood, head of digital partnerships at Visa in the Asia Pacific region, stated: “Visa wants to bring more payment options to consumers by connecting digital currencies with our network of banks and merchants. We’re excited that Wirex is expanding their focus on Asia Pacific, making it easy and seamless for people to spend their crypto balance at the millions of merchants that accept Visa in the region.”
The goal of this partnership is to offer additional cryptocurrency-linked payment methods to more markets throughout the world, allowing digital natives to pay with cryptocurrency even at legacy merchants. Wirex cardholders can use their cryptocurrencies to pay at 80 million Visa-accepted locations worldwide while collecting 8% cashback.
The United States is one of the markets that will benefit from significant collaboration as a result of this deal, presumably allowing the company to compete with other crypto card businesses in the area. Wirex APAC regional managing director Svyatoslav Garal thanked Visa for providing crypto potential to more countries.
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He stated: “It’s great to strengthen our partnership with Visa, who have played an important role in allowing us to bridge the gap between the traditional and digital economies.” Wirex also announced it would complete another card partnership related to Australia in the coming weeks, expanding its global service footprint.
