How Wirex’s Partnership with MasterCard Enhances Cryptocurrency Accessibility
Wirex, a UK-based fintech company, has recently partnered with MasterCard to provide their customers with easy access to cryptocurrency through MasterCard’s global payment network. This partnership marks a significant milestone for Wirex, making it the first cryptocurrency native platform to offer principal membership cards. Now, customers can take advantage of MasterCard’s acceptance of crypto payments at any stage and anywhere in the world.
Expanding Crypto Accessibility in Europe
Wirex’s unique offering involves providing free debit cards connected to cryptocurrency native accounts for their clients. By allowing companies to issue their crypto payments cards on the MasterCard network, Wirex empowers cryptocurrency users to conveniently make payments in the form of crypto coins worldwide, wherever Visa cards are accepted. This groundbreaking approach provides a single platform for buying, holding, and exchanging cryptocurrencies into fiat currency efficiently.
Raj Dhamodharan, the Executive Vice President of MasterCard, acknowledges the growth of the cryptocurrency market and its digital assets. This partnership aligns with MasterCard’s commitment to creating a secure environment for consumers and businesses in the digital economy, fostering innovation, and providing consumers with more payment choices.
MasterCard Driving the Future of Crypto
As the demand for cryptocurrencies continues to rise, MasterCard aims to ensure the safety and security of digital assets while facilitating growth in the digital economy. Wirex’s partnership with MasterCard is a significant step towards making all types of cryptocurrencies more accessible to a wider audience. Additionally, Wirex plans to revolutionize the fintech and crypto spaces in the coming months, introducing next-generation cards with free ATM access for European users.
Enhancing Crypto Acceptance and Functionality
Wirex’s partnership with MasterCard is not limited to just one product. They have also collaborated with other major competitors such as Visa, allowing their network to support multiple financial operations involving fiat and digital currencies like Bitcoin, Ethereum, and Litecoin. Furthermore, Wirex’s adaptable platform can accommodate growing yet volatile currencies, offering reliable support and potentially reducing applicable charges.
Similar to Coinbase’s partnership with Visa, which verified principal membership earlier this year, Wirex’s collaboration with MasterCard enables the use of digital coins in everyday situations, expanding their utility and adoption. Furthermore, Visa’s patent application for a blockchain-based digital fiat currency indicates a shift towards replacing physical cash. While both MasterCard and Visa were initially members of the Facebook Libra Project, aiming to establish a universal digital currency, they have since diverged from the project due to regulatory challenges.