Bitcoin's MasterCardWe started Wirex in 2014, back when the price of a Bitcoin was $300, the main users of cryptocurrencies were tech geeks and blockchain was in its infancy. In April 2018, Wirex announced contactless debit cards and became the industry's first major wallet and card provider to add new Litecoin functionality, augmenting its existing Bitcoin and traditional currency capabilities, in recognition of the rapidly growing adoption of Litecoin as a payment method.
The wallets let you buy, store, or manage both crypto and fiat. The card can be funded with cryptocurrency in-app and exchanges can be made between fiat and cryptocurrency in the app also. Wirex is a user-friendly debit Wirex card. The Wirex prepaid card will allow American consumers to instantly convert their Bitcoin, XRP, Ethereum or Litecoin and spend in: stores, bars and restaurants, on transport, online or withdraw from ATMs.
The Wirex prepaid card leverages i2c's payments processing platform, which allows card issuers to quickly create and scale high-value payment and digital commerce solutions on a single global SaaS platform with industry-leading reliability and security.
The rigid geometric qualities of this typeface establish the sense of a digitally-led, modular aesthetic of the brand's visual identity; while a vivid colour palette of Dark Green and Light Green are used in tandem with various shades of pastels and greys to differentiate Wirex's standard and premium payment cards.
However, since the release of Bitcoin, more and more people have adopted cryptocurrencies as an additional alternative to paying for things (you can read our guide about shopping with crypto here ). Providing users with a seemingly endless array of options of things that can be purchased with crypto is a determining factor towards the mass adoption of crypto, but the vast amount of options might make it a little bit daunting for people who are not familiar with them.
As for expansion, the company is watching the regulation in Korea closely,” said Matveev, which he anticipates will be a near exact copy” of the crypto regulations presently unfolding in Japan: in contrast to the crackdown on crypto in countries such as China, Japan has continued to allow crypto exchanges to operate, with millions” of outgoing crypto trades being conducted, according to Matveev.
You are now adding Bitcoin into your wallet, so later you can send them into whatever card you want. The idea behind the foundation of Wirex is to enable the customers to make payments either with cryptocurrencies or with traditional currency. Also, if you're interested in Bitcoin as a virtual currency and have no interest in using it as an exchange for goods - Wirex is not ideal.
Here is a short table summarising all the fees that are applied to the Wirex crypto debit card. If cryptocurrencies such as Bitcoin and Litecoin are ever going to become ingrained in the mainstream for consumer purchases, platforms such as Wirex need to be celebrated and adopted.
Wirex is an FCA regulated company (and a Money Service Business registered with FINTRAC in Canada), with over 2 million clients in 130 countries, processing over $2 billion in transactions every year. Contactless bitcoin payments, contactless cards, additional currencies and new bitcoin-based financial products are also planned to be launched soon.