According to an exclusive press release shared with U.Today, London-based payments company Wirex, which also works with crypto, has been added by Visa to its European network as a principal member.
Now, Wirex can issue Visa cards itself, create more innovative products and gain extra licenses.
Wirex has already been cooperating with the Visa in a long-term partnership. Wirex boasts a customer base of more than 3 million in the APAC and EEA countries, where its clients can use a Wirex card that allows seamless spending of both fiat currencies and crypto.
This year, compared to 2019, the company has seen a gargantuan 271 percent increase of crypto exchanges on its app.
Visa's head of cryptocurrency, Cuy Sheffield, stated that the giant is happy to work with Wirex. He added that, thanks to Visa's network, the firm's clients will be able to spend crypto at 61 million merchants.
The Wirex app also allows users to buy and sell cryptocurrencies. Besides, as part of the Cryptoback scheme, every client who pays for their purchases with a Wirex card can get a reward of up to 1.5 percent of the purchase in Bitcoin.