Borderless payments platform Wirex has released a new multi currency travel card for the Asia-Pacific (APAC) region.
Released at the Singapore FinTech Festival, the new ‘Wirex Visa Travelcard’ provides users with the opportunity to spend “multiple crypto and fiat currencies” when travelling.
A crypto rewards system will also feature; all cryptocurrency exchanges to legal tender fiat currency takes place before users transact on the Visa network.
Pavel Matveev, Wirex co-founder and CEO, said: “We’re delighted to be able to offer the full Wirex experience and empower customers across APAC to take control of their crypto and traditional currency.
“This unparalleled functionality and versatility makes the Wirex Visa Travelcard the perfect travel companion, whether customers are travelling abroad for business or leisure.”
Compatible with more than 150 currencies, the Wirex Visa Travelcard enables customers to link multiple fiat currencies, avoiding costly exchange fees during travel.
Customers will find availability anywhere Visa is accepted plus free international ATM withdrawals and its unique ‘Cryptoback’ programme, which rewards customers with up to 1.5% back in Bitcoin on all in-store purchases.
“We have witnessed an explosion in demand for hybrid fiat and crypto-enabled banking alternatives in APAC, where people need payments redesigned for the future, allowing them to unlock the value of their different currencies,” added Matveev.
“The evolution of Wirex’s offering in APAC represents more than just the next stage in the platform’s growth strategy; it is a tangible example of our mission to provide a genuine alternative to conventional financial services by connecting traditional and digital ecosystems on one borderless payment platform.”
Wirex, founded in 2015, revealed it is also set to release a “revolutionary selection” of fiat-backed stablecoins.