- Wirex will now become a designated principal member of Mastercard, which permits it to offer cards to customers and enhance its product offering.
- The move comes after the firm expanded across the Asia Pacific and North America.
- “We’ve been working hard to develop a cheaper, faster and safer platform,” said Wirex’s co-founder and CEO.
Global payments provider Wirex has revealed that it will partner with financial services organisation Mastercard.
Wirex, which is a crypto-focused platform designed to improve international money transfers through the use of cryptocurrencies, said that it had come to an agreement with the firm.
It has now secured principal membership of Mastercard, which gives it the ability to significantly extend its product offering.
It will, for example, now be able to provide payment cards directly to consumers.
From there, it will be able to ensure that customers have lower costs and a speedier transaction time.
According to a press release from the company, it will also help Wirex to “make all currencies equal”.
As part of the new Wirex offer, customers will be able to execute a variety of orders on both fiat currencies and cryptocurrencies with instant turnaround times.
They will, for example, be able to buy and hold such currencies.
From there, they will be able to spend and exchange.
None of this will require moving from platform to platform, as the Wirex service brings all of the options together in one interface.
Pavel Matveev, who was a co-founder of Wirex and now serves as its chief executive officer, said that the move was something that his firm was “proud” to have done.
He again emphasised the Wirex mission to render every currency equal alongside each other – and he added that there would be a triple benefit in the form of speed, cost and security.
“We’ve been working hard to develop a cheaper, faster and safer platform, and we’re excited to announce some revolutionary advancements over the next few months that will change the fintech and crypto spaces forever,” he said.
For Mastercard’s part, Edoardo Volta, who serves as its head of fintech in the UK & Ireland, said that the new development would provide customers with an added range of payment methods to choose from.
“We are excited to be starting this new relationship with Wirex, offering consumers further choice and flexibility in the way they pay,” he said.
According to its press statement, Wirex has been expanding quickly over the course of the last year and a half.
Some of its new product offerings include a native token called the Wirex Token, or WKT for short.
It has also made inroads into the Asia Pacific market.
Offices of the firm have been opened in significant locations such as Singapore and Japan.
In North America, meanwhile, the firm has enhanced its position with offices in Atlanta, Dallas and Toronto.
To discover more about what organisations like these in the online money transfer field are doing, why not head over to our news pages and read some more information?
