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Crypto Payments Platform Wirex Expands Services to USA

·7 min read

- Wirex's mobile app allows customers to easily and safely buy, store, exchange and spend digital currencies anytime, anywhere

- Ability to transfer on-chain and with 0% card top-up fees, rare amongst competitors

- First company in the world to have created crypto-enabled debit cards*

- Over 4.5 million users globally, with huge success in EEA and APAC already

LONDON, Feb. 7, 2022 /PRNewswire/ -- Wirex, a leading digital payments platform, has launched its services in the US, giving millions of people more affordable, easy and secure access to crypto and fiat currencies in everyday life.

Crypto Payments Platform Wirex Expands Services to USA (PRNewsfoto/Wirex)
Crypto Payments Platform Wirex Expands Services to USA (PRNewsfoto/Wirex)

After partnering with Zero Hash, Checkout.com, Visa and Sutton Bank, distribution has begun on its hugely popular debit card across America. Wirex already provides cutting-edge services to over 4.5 million users across the EEA and APAC regions, earning itself a reputation for its commitment to innovation and security, and a US launch is the next step for the London-based company in introducing this financial alternative to a mainstream audience.

Wirex seeks to revolutionize payments in the US, offering the ability to buy, hold, exchange and sell US dollars as well as 37 different cryptocurrencies from a single intuitive app, as well as seamlessly send and receive crypto from external wallets. State-of-the-art technology links the app to a contactless Visa debit card, allowing customers to spend their cryptocurrency* online and in-store at over 61 million locations globally. Additional features include free domestic and international ATM withdrawals**, no annual fee, zero exchange fees, near instant crypto transactions, and live transaction notifications. Following an impressive collaboration with Checkout.com, customers can also instantly top up with zero fees by linking their debit cards.

Since launching in 2014, Wirex has become famous within the fintech community for developing the first crypto-enabled debit card, as well as the world's first crypto rewards scheme, Cryptoback™. The program rewards users with up to 8% in X-points for every purchase which can be exchanged for any other crypto in-app. Continuing its quest for the mass adoption of the digital economy, they released an upgraded rewards scheme, X-tras, as well as a DeFi-powered interest-earning product, as X-Accounts, which will both be available in the US shortly.

"We're excited to be able to empower American consumers, whether a hardcore crypto-enthusiast or a novice fintech fan, to experience the benefits of a digital economy," commented Harold Montgomery, Managing Director of Wirex USA. "US users have been demanding an alternative to traditional forms of payments that are antiquated, slow and non-transparent, and that's where Wirex steps in. We're known for upholding regulatory and licensing standards where required, and applying industry-best practices where regulations don't yet exist. American customers can expect the same level of compliance."

Edward Woodford, the CEO of Zero Hash and the crypto trading infrastructure platform powering the Wirex's crypto launch, commented that, "This is an excellent time to enter the US market and Wirex is primed for success as cryptocurrencies gain momentum as a payment option. Recent studies confirm this with nearly 60 percent of US consumers wanting to pay with crypto to make everyday purchases.1Our deep expertise in US regulations and our API-first approach makes us consistently the chosen partner for fintechs such as Wirex to expand to the US."

The company continues to create an enhanced digital ecosystem with the recent release of the Wirex non-custodial wallet and an investment in DeFi protocol, Nereus, positioning Wirex for exponential growth. The US launch will play a pivotal role in this, and in the coming months, the company plans to roll out more valuable features and services that have proved hugely successful in other regions, bringing the benefits of crypto and DeFi to over 300 million Americans.

Key Points:

  • Mobile app allowing customers to easily and safely buy, store, exchange and sell traditional and digital currencies anytime, anywhere

  • On-chain transactions enable crypto to be sent and received from external wallets

  • Next-generation technology links the Wirex app to a contactless Visa debit card, allowing these funds to be spent at over 61 million locations globally

  • Prepaid Card Funds are held in an FDIC-insured federally chartered bank, insured up to $250,000 per person

  • Commission-free trading and zero ATM fees**

  • Instant top-ups by linking your debit/credit card

  • Ability to earn up to 8% X-Points rewards back for any in-store and online purchases made, with Cryptoback™ rewards scheme and X-tras program

  • Over 4.5 million customers globally, with huge success in EEA and APAC already

  • Currently available to all US states (except New York & Hawaii, coming later this year)

  • Further plans to launch additional features and products to US customers

* Cryptocurrencies are automatically converted to USD at point of sale or ATM withdrawals

** Zero ATM fees on withdrawals up to $250 per month, 2% thereafter

Your Wirex Visa Prepaid Card (the "Wirex Card") will be issued by Sutton Bank, an Ohio chartered bank corporation whose main address is at 1 South Main Street, Attica, Ohio and who is a member of Visa.

About Wirex

Wirex is a worldwide digital payment platform and regulated institution that has forged new rules in the digital payments space. In 2015, the firm developed the world's first crypto-enabled payment card that gives users the ability to seamlessly spend crypto and traditional currencies in real life.

Wirex was created in 2014 by CEOs and co-founders Pavel Matveev and Dmitry Lazarichev, who identified the need to open up the esoteric world of cryptocurrencies and make digital money accessible for everyone. With the core aim of making it as easy as possible to use digital assets in everyday life, Wirex provides a trusted and cost-effective service for crypto and traditional currency transactions by incorporating the next generation of payments infrastructure integrated with cryptocurrency blockchains

With over 4.5 million customers across 130 countries, the company offers secure accounts that allow customers to easily store, buy and exchange multiple currencies instantly at the best live rates on one centralised mobile app. Quick and simple crypto transfer options are available, as well as the freedom to spend 150+ traditional and cryptocurrencies in more than 80 million locations around the world using the Wirex card.

Wirex continues to develop the product in line with market developments, whilst adhering to regional regulations and securing appropriate licensing where it exists. A proven industry pioneer, Wirex launched their own native utility token, WXT, and introduced the world's first crypto reward programme, Cryptoback™, which earns cardholders up to 2% back in WXT for every transaction they make.

To reflect the growth of the metaverse, throughout 2021, the company has expanded their product to enable mainstream access to DeFi. Starting with the launch of their popular X-Accounts feature, offering unprecedented levels of interest, Wirex has continued to add to their DeFi arsenal with the release of the non-custodial Wirex Wallet and a partnership with Nereus, a decentralised liquidity market.

Wirex is based in London, with offices in Singapore, Kyiv, Dallas, Dublin and Atlanta. With over $5bn worth of transactions processed already and rapid expansion into new territories, including the US, Wirex is uniquely placed to support and promote the mass adoption of a cashless society through creative solutions.

| wirexapp.com | App store | Google Play Store |

About Zero Hash

Zero Hash is a B2B embedded infrastructure platform that allows any platform to integrate digital assets natively into their own customer experience quickly and easily (a matter of API endpoints). Zero Hash's turnkey solution handles the entire back-end complexity and regulatory licensing required to offer digital asset products.

Zero Hash powers neo-banks, broker-dealers, and payment groups to offer digital asset trading and custody, crypto-backed rewards, and round-ups programs, as well as the ability to earn crypto through staking and DeFi. Clients include MoneyLion, Transak, Deserve, Wirex, MoonPay, tastyworks. Zero Hash is backed by investors, including Point72 Ventures, Bain Capital Ventures, and NYCA.

Zero Hash Holdings Ltd. is a Delaware C-Corp that wholly owns Zero Hash LLC and Zero Hash Liquidity Services LLC. Zero Hash LLC is a FinCen-registered Money Service Business and a regulated Money Transmitter that can operate in 51 US jurisdictions. Zero Hash also holds a virtual currency license from NYDFS. In Canada, Zero Hash LLC is registered as a Money Service Business with FINTRAC.

1 Report: Nearly 60 Percent of Consumers Want To Buy Stuff With Crypto, PYMNTS, August 2, 2021, https://www.pymnts.com/cryptocurrency/2021/report-nearly-60-percent-of-consumers-want-to-buy-stuff-with-crypto/

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SOURCE Wirex