Digital payments platform Wirex, which offers solutions both for digital and fiat currencies, has launched a VISA travel card that supports 150 currencies, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Stellar (XLM), and a slew of other altcoins, the company's press release states.
?Calling all Wirex customers in:
Early access to the brand-new Wirex Travelcards empowering borderless spending in #crypto* & traditional currency is here!
(1/3) pic.twitter.com/3MDfi65BhW— Wirex (@wirexapp) November 11, 2019
The Wirex Visa Travelcard, which will be available across the Asia-Pacific region, allows its users to receive 1.5 percent in Bitcoin rewards on all their in-store purchases to later spend them on traveling.
From the outset, Wirex users will be able to enjoy the offer without paying any additional fees, which is expected to be a selling point for those customers who are still on the fence. For comparison, there is a 1 percent maintenance monthly fee for the owners of the company's crypto debit card.
“We’re delighted to be able to offer the full Wirex experience and empower customers across APAC to take control of their crypto and traditional currency," said Wirex CEO Pavel Matveev.
As reported by U.Today, Wirex acquired a much-coveted e-money license from the Financial Conduct Authority (FCA) back in August 2018 that solidified its status as one of the leaders in the real of crypto payments.
Bitcoin debit cards bridge the gap between fiat and crypto by allowing users to instantly spend crypto at grocery stores, restaurants, and other locations without breaking a sweat. Digital coins are automatically converted to fiat, which means that merchants do not have to deal with volatility risks of the nascent asset class.
However, Bitcoin Cash proponent Roger Ver believes that the need for conversion makes Bitcoin susceptible to censorship.