LONDON, July 15, 2024 /PRNewswire/ -- Wirex, the leading
Web3 money app, and Visa, a world leader in digital payments, are
thrilled to announce a partnership to further the use of digital
currencies in the UK and the European Economic Area (EEA).
This collaboration will explore new opportunities to leverage
and integrate innovative Visa cards and reduce friction in payment
experiences. By combining the strengths of both companies,
consumers will have the trust and confidence of Visa's payment
network with Wirex's product innovation.
A major highlight of this partnership is the launch of Wirex
Pay, the modular Zero Knowledge (ZK) payment chain incubated by
Wirex. Wirex Pay is designed to revolutionise how users manage
and spend both crypto and traditional currencies. This innovative
product aims to simplify transactions, offering a seamless way to
handle funds. It showcases fintech innovation by enabling seamless
transactions between blockchain technology and traditional
finance.
Wirex proudly stands as a crypto-native company holding Visa
principal license capabilities for card issuance. Together, Visa
and Wirex are committed to developing projects that integrate
blockchain technology with traditional financial systems, ensuring
smooth and efficient transactions. As such, Visa will support
Wirex's growth in existing markets through enhanced marketing
efforts, leveraging Visa assets and capabilities.
Sviatoslav Garal, Global Head of
Payments at Wirex, remarked, "Being among the few crypto-native
companies licensed by Visa for card issuance, and notably the first
principal member of Visa Network in Europe, emphasizes Wirex's pioneering role in
the financial industry. At a time when the financial world is
boldly moving towards Web3 and decentralisation, the need for
robust solutions for global funds movement remains essential. Key
ecosystem players like Visa play a tremendous role in this shift.
Wirex, a renowned innovator in both Web3 and traditional finance,
is thrilled to partner with Visa in bridging the gap between these
two spaces."
"Partnering with Wirex to help integrate blockchain technology
with traditional finance, including the launch of Wirex Pay, aligns
closely with our vision for the future of payments while
highlighting the importance of collaboration in driving fintech
innovation," said Cuy Sheffield,
Head of Crypto at Visa.
About Wirex
Wirex is a prominent UK-based digital payments platform with
over 6 million customers spread across 130 countries. It offers
secure accounts, making it easy for users to store, purchase, and
exchange multiple currencies seamlessly.
As a principal member of both Visa and Mastercard, Wirex goes
beyond traditional services, embracing the evolving trends of Web3
to provide mainstream access to digital finance and wealth
management.
Having processed transactions totalling $20 billion, Wirex aims to contribute to the
adoption of a cashless society by facilitating straightforward
transactions in various currencies worldwide. Wirex is simplifying
digital payments, making it more accessible and convenient for
people across the globe.
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