Digital money platform Wirex this evening revealed the launch of Wirex 3.0 and a lavish makeover for the UK-based brand.
The company also unveiled a host of new features for consumer accounts and an expansion into the APAC region.
Key features include the addition of multiple fiat currencies, unconditional access to OTC (over-the-counter) and interbank rates, as well as bank transfers using Faster Payments, SEPA and Swift.
Although the ability to carry out bank transfers is not in itself a ground-breaking feature, having this facility available for Wirex customers provides an ability to cash out their cryptocurrencies to an external bank account seamlessly and with minimum expense.
The process of cashing out can be a costly and time-consuming, involving multiple legs and conversions between an exchange and customer account. However, Wirex 3.0 should now provide a facility to cash out directly into up to 13 fiat currencies.
“We are delighted to reveal the new features, it is important to us to give our users the power to use their money, their way,” Dmitry Lazarichev, Wirex co-founder, told the guests during this evening’s launch event at the London Film Museum.
“Back in 2004 we were the first to go to market with a card that allowed users to convert and spend their crypto.
“Since then we have come a long way to now provide a fully-functioning borderless payment platform for both traditional and cryptocurrencies.”
Business customers
The London firm also added further facilities for business customers who will now have the ability to make payments to suppliers in four cryptocurrencies and 12 traditional currencies.
“B2B international transactions in crypto have for too long been subject to unnecessary restrictions and high fees through existing channels,” added Mr Lazarichev.
“From the outset, we thrive to empower our users to use their money, their way.”
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.