Digital Banking
Wirex launches multicurrency Mastercard debit card
March 17, 2021
Digital payment platform, Wirex, has launched a multicurrency Mastercard debit card and rewards program in the U.K. and EEA. The card will help to make cryptocurrency more accessible to consumers, according to a press release.
"The cryptocurrency market continues to mature, and Mastercard is driving it forward, creating safe and secure experiences for consumers and businesses in today's digital economy," Edoardo Volta, head of fintech for Mastercard U.K. and Ireland. "Our work with Wirex is another example of how we are empowering consumers with more choice and peace of mind in the way they shop and pay."
The London-based fintech has nearly 3.5 million customers and is Mastercard's first crypto-native principal member. The card will solidify Wirex's vision of making the digital economy accessible to everyone. Its features include real-time point-of-sale conversion, exclusive interbank and OTC exchange rates, free international ATM withdrawals, zero monthly fees and free fiat-to-fiat exchanges.
The waitlist for the multicurrency debit card has already topped 75,000 customers, looking forward to using the card to spend up to 18 crypto and traditional currency.
Mastercard principal membership enables Wirex to issue payment cards directly to consumers, making it easier for people to buy, hold and exchange multiple traditional and cryptocurrencies. Consumers can instantly convert their cryptocurrencies into traditional fiat currency, which can be spent everywhere Mastercard is accepted.
Wirex users in the U.K. and EEA region can order the Wirex card from the website, and the X-tras rewards program is available in-app. It gives customers the option to choose from three pricing plans. Customers may unlock a range of benefits, including unlimited, instant Cryptoback rewards, Savings Bonuses and the chance to earn free WXT by introducing friends and family to Wirex.
"It's been Wirex's aim to continue developing a next-generation product that will bring crypto further into the mainstream, and the launch of the debit card and X-tras rewards scheme will make this a reality," Pavel Matveev, co-founder and CEO of Wirex, said in the release. "The huge range of benefits that come with it will appeal to everyone from crypto-enthusiasts to frequent travelers and the financially-savvy, and will be a great a great alternative to traditional banks."
