A Wirex Crypto debit card is set to be released in the UK starting November followed by the US shortly after. The company opened up sign-ups for its multi-currency Mastercard with plans to be open for business in November as we read more in our crypto news today.
Wirex is the first crypto-native partner for Mastercard as the company claims it has signed up more than 10,000 customers in a few hours of opening the waitlist for the next Wirex crypto debit card today. The company also plans to start UK distribution in November and the US Soon after. Wirex which is a London-based crypto payments platform, signed up more than 10,000 people to its multi-currency Mastercard after opening the waitlist this morning as the company’s spokesperson said. The company is poised to launch a single currency Visa crypto debit card in the United States in December.
Time to shake up the world of #payments. Again. 🔥
Sky-high limits, minimal fees, unlimited interbank rates and the lowest commission in the industry.
— Wirex (@wirexapp) October 21, 2020
The company will begin the distribution of the multi-currency debit card in the UK with the remaining European markets in early 2021. The company said demand for the platform is surpassing the expectations. A spokesperson for the company said:
“We’re very excited to say that we have a launch in the US planned for December this year, and Japan early next year as well, which we expect to be very well received given the interest we have had from crypto-enthusiasts and fintech fans alike in the region.”
The waitlist is gamified so the potential customers on the list can share it on their social media networks and can move further up the list if they want to be one of the first customers. The debit card is linked to 19 secure currency accounts in the app and will allow users to seamlessly spend fiat for crypto anywhere that Mastercard is accepted without exchanging. The offering differs from the single currency Visa card since if the customers want to use one single currency debit card, the cardholders can exchange other currencies inside the app and then convert them into a local reference currency. However, both of the cards allow users to spend crypto in-store.
Wirex didn’t finalize what type of card will be launched in Japan as it previously launched a multi-currency Visa card in Europe back last year. The company believes that this technology is “encouraging the merchant adoption of digital assets, as well as giving the ability for cash to be withdrawn from an ATM using the debit card, using crypto funds held in your Wirex account.”
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