Bolstering its growth plans for the coming year, Wirex has been announced as a principal member of Visa in Europe.
Having successfully completed Visa’s FinTech Fast Track Programme, Wirex has secured the principal membership from the payments company. Principal membership will allow Wirex to issue Visa cards themselves, offer new products, and apply for additional licences.
Pavel Matveev, CEO and Co-Founder of Wirex, stated: “It’s been our core goal to unite the traditional and digital economies, and collaborations with trusted global payments companies such as Visa are making this possible by providing straight and cost-effective solutions for utilising crypto in the everyday. It’s no easy feat to achieve principal membership, and will present numerous opportunities to continue developing a revolutionary product.”
The announcement comes at a crucial time for the digital economy, with Bitcoin recently hitting its all-time high and a series of large industry players recently showing support for cryptocurrency.
“Digital currencies have the potential to extend the value of digital payments to a greater number of people and places,” said Cuy Sheffield, Senior Director and Head of Cryptocurrency, Visa. “We’re excited to work with innovative Fintech’s like Wirex, and enable their customers to use digital currencies at more than 61 million merchants on the Visa network.”