Wirex Becomes The Latest Principal Member Of Visa

The recent announcement by crypto payment platform Wirex shows that it has scored a big one in the payments sector. According to the payments firm’s recent announcement, it has officially become a partner of the payments company Visa in Europe. The recent news is coming off the back of its recently completed Visa Fintech Fast Track event.

With this new development, the UK based outfit has been officially given the license to officially issue Visa cards, sell products associated with the Visa brand across Europe. The firm can also move from there and apply for other licenses across the region, provided they satisfy the requirements.

Wirex users would be able to use Visa services

Reacting to the latest news, the senior director and head of digital assets at Visa, Cuy Sheffield, mentioned that they are delighted to partner with budding fintech outfits like Wirex. He said that they would hereby make various digital assets available to the over 61 million clients that Wirex boasts across the world.

He also made a worthy note that their Visa platform will also be available to all the clients of Wirex, should they want to carry out a transaction in the platform. According to previous reports in July, Wirex already completed a review and has been added as a principal member of MasterCard.

Wirex is planning to launch its credit card in the coming years

Wirex prides itself as one of the biggest crypto outfits across Europe and Asia. The firm has also intimated that it hopes to launch its debit card in the future to enable its customers to pay using fiat and digital assets.

Wirex has enjoyed a wonderful relationship with major entities across the financial system, with the firm boasting of partnerships worldwide. A recent publication on the firm’s website showed that it has entered into an alliance with SBI Holding, a financial firm based in Japan, since 2017. Last year, the firm also launched 26 stablecoins on the Stellar network.

In a statement by Pavel Matveev, the CEO of Wirex, gaining the license was not easy on their path as they had to satisfy various rigorous conditions. With the achievement in the bag, the company can now surge ahead with its plan to create unique products for its clients. Matveev also mentioned that the latest partnership would enable the firm to provide its customers with a straightforward and easy payments system.

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