Payments provider Wirex has made a huge leap towards bridging the gap between fiat and crypto by launching the USA’s first multiple-cryptocurrency prepaid Visa card.
The London-based wallet pioneer has collaborated with processing technology firm i2c to extend its successful European Wirex Visa Card programme to the US.
The move means American consumers will be able to spend their digital currencies using the Wirex prepaid card by instantly converting Bitcoin, Ripple, Ethereum or Litecoin in stores and online. They can even withdraw cash from ATMs.
Wirex has been attempting to close the crypto-to-fiat gulf since 2014. So far, with worldwide market capitalisation approaching $250 billion, there are still only 0.3% of the world’s merchants accepting crypto payments.
“Our mission is to bridge the gap between traditional money and cryptocurrencies, so our clients can use their digital money for everyday purchases,” claims Vroon Modgill, CEO of Wirex North America.
“Our data shows that cryptocurrency adoption is increasing in retail environments. Somewhat surprisingly, McDonald’s takes the top spot when it comes to spending on the Wirex cards amongst European users, followed by major grocery stores.
“The relationship with i2c, will enable Wirex to be the first crypto-friendly payment platform to offer this innovative service in the US.”
The partnership with i2c will facilitate the introduction of the Wirex prepaid program, similar to the existing Wirex Visa card programme in the EU. The Wirex prepaid card leverages i2c’s payments processing platform, which allows issuers to quickly create and scale high-value payment and digital commerce solutions on a single global SaaS platform with industry-leading reliability and security.
i2c’s payments processing technology supports advanced payment features and functionality such as multi-currency and multi-purse technology. It also offers card controls that give customers more options when implementing budgets, spend controls, and advanced real-time alerts.
“Industry-leading technology allows innovators in payments to rapidly launch solutions that meet the ever-evolving needs of today’s consumers,” explained i2c’s Joe DeRosa.
“At the heart of successful innovation and growth in payments are ideas that take the industry in new directions.
“A flexible technology infrastructure to support new business models, and strong partnerships are key factors in the payments ecosystem.
“We are proud to team-up with Wirex to launch a unique card product that offers convenience, security, and a great user experience.”
Founded in 2014, Wirex is a global digital payments platform serving more than two million customers in more than 130 countries and has always been considered as one of the front-runners in the cryptocurrency payments arena.