Wirex Makes Crypto Payments Widely AvailableEXCLUSIVE—Crypto wallet provider Wirex will be expanding its services to several new markets in 2018, including the United States, CEO Pavel Matveev told Bank Innovation. Ahead of bitcoin's recognition as an official form of payment in Japan from Saturday, Wirex , the blockchain personal finance platform, has unveiled new measures to ensure Japanese citizens and customers worldwide can fully benefit from cryptocurrency liberalisation in the country.
Bitcoin, as Euromoney readers know, is very good for certain things that individual banking customers value: for micro-payments or transferring small sums quickly Wirex across border without paying hefty fees. These four supported cryptocurrencies can be bought using GBP and stored in a Wirex web-based crypto wallet.
It also allows payment through near-field communication off a mobile phone and the capacity to withdraw fiat cash from ATMs with a virtual e-card on a mobile, even for customers that haven't paid the delivery fee for a very traditional-looking plastic Wirex card.
As we were not too familiar with how Wirex card worked, Amelie continued: Wirex provides an account with both traditional currencies and cryptocurrencies linked to a Visa card, this is great as it allows to convert and spend cryptocurrency wherever Visa is accepted”.
LAS VEGAS, NV - October 22, 2018 - Today, Wirex - the payments pioneer that aims to bridge the gap between cryptocurrencies and everyday spending - announced that they have teamed up with payments processing technology provider i2c to launch the United States' first multiple cryptocurrency-backed prepaid card.
As for expansion, the company is watching the regulation in Korea closely,” said Matveev, which he anticipates will be a near exact copy” of the crypto regulations presently unfolding in Japan: in contrast to the crackdown on crypto in countries such as China, Japan has continued to allow crypto exchanges to operate, with millions” of outgoing crypto trades being conducted, according to Matveev.
Thanks to Wirex integration with Visa and MasterCard, the convenience and acceptance of Bitcoin by merchants made a huge difference. Issue 1: WireX is not really a Crypto-Bank. Cryptocurrency and business relationships have been slowly becoming more mainstream. An FCA licence is a big deal for any financial institution, but when a cryptocurrency-friendly company qualifies, the implications for the financial world are of even greater significance.
The company recently made headlines when one of its issuers, WaveCrest, was removed from the Visa network due to lack of compliance with Visa's polices, the card provider said. Last year, Ohio partnered with cryptocurrency company BitPay, and the state became first in the U.S. to allow businesses to pay their corporate taxes in bitcoin.
And the developers believe that they have created a cross-platform XRP wallet that's simple enough for your grandma but safe enough for a Swiss banker. The platform continues to welcome new currencies to its existing portfolio of 10 digital and 11 fiat currencies.