Wirex has signed a long-term partnership with Visa to expand to more than 40 countries in APAC.
According to a press release today, popular cryptocurrency payment app Wirex has inked a long-term global partnership deal with Visa to expand its footprint in the United Kingdom and Asia-Pacific (APAC).
Under the partnership, Wirex will become a Visa associate in the U.K. and APAC to enable the London-based company to roll out crypto-enabled debit cards in more than 40 countries. Furthermore, the announcement noted that the partnership would create room for future collaborations between the two companies in other major markets, including the U.S. and Europe.
Previous Partnership Between Wirex and Visa
Notably, the recent partnership marks an expansion of a 2015 agreement between Wirex and Visa. Wirex said it became the first company in 2015 to develop a crypto-enabled debit card that allows users to buy, hold, and sell multiple crypto assets and traditional currencies across 80 million locations where Visa is supported.
Some of Wirex’s supported crypto assets include Bitcoin, Ethereum, Litecoin, Aave, and Uniswap. The initiative exposed Wirex customers to numerous benefits, including an 8% crypto back for every purchase, zero-monthly fee, real-time point of sales conversion, etc.
Wirex has experienced tremendous growth since its initial partnership with Visa. Per the announcement, Wirex has more than 5 million users, with a strong base in the U.K. and a rapidly growing presence in the Asia-Pacific.
Regional Managing Director of Wirex APAC Svyatoslav Garal highlighted the significance of strengthening the company’s partnership with Visa. According to Garal, Visa played a vital role in helping Wirex to bridge the gap between digital and traditional economies.
Reacting to the development, Matt Wood, Visa’s Head of Digital Partnerships, Asia Pacific, said the company is committed to expanding its payment options by integrating crypto into its network of merchants and banks.