Cryptocurrency payments app Wirex has signed a long-term global partnership with Visa (V) to expand its footprint in Asia-Pacific (APAC) and the U.K., according to an announcement on Monday.
The announcement builds on the two companies' existing relationship of a crypto-linked visa debit card in the U.S. and Wirex holding principal membership status with Visa in Europe. In 2015, according to Wirex, it became the first company in the world to develop a crypto-enabled card that allowed users to buy or sell multiple traditional and cryptocurrencies.
With this expansion the London-based Wirex, which has over 5 million customers, will now be able to directly issue crypto-enabled debit and prepaid cards to over 40 countries.
While its largest customer-base is in the U.K., Wirex had previously withdrawn the U.K. Financial Conduct Authority's (FCA) temporary registration regime ahead of a deadline to obtain full registration which meant it would serve U.K-based customers via a subsidiary licensed in Croatia.
"Visa wants to bring more payment options to consumers by connecting digital currencies with our network of banks and merchants," said Matt Wood, Head of Digital Partnerships, Asia Pacific, Visa.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish, a cryptocurrency exchange, which in turn is owned by Block.one, a firm with interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets including bitcoin and EOS. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.