The card allows users to spend their cryptocurrencies seamlessly for any online or in-store purchases. Wirex proudly stated:
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
Wirex claims to have signed up more than 10,000 customers within hours of opening its waitlist for the new crypto debit card. Distribution of the multi-currency debit card in the UK will start in November, followed by the US in December. Japan, as well as the remaining European markets, will start in early 2021.
Wirex’s Multi-Currency Mastercard Features
The multi-currency Wirex Card will have links to 19 crypto and fiat accounts through the native Wirex App. Users get the chance to purchase their daily needs using crypto. Aside from that, Wirex also brings some interesting Cryptoback rewards in BTC for every purchase.
In detail, customers will get 2% Cryptoback rewards on their Wirex card spending and 6% on customer Wirex’s token (WXT) balance annually.
Key features of the card include a multi-currency travel card alongside the ability to buy, hold, exchange, and spend 10 digital and 9 traditional currencies. Also, it is available in 31 countries and offers low-to-no commission on crypto purchases, among other benefits.
Wirex CEO and Co-Founder Pavel Matveev said that,
As a company, we have always believed that Wirex will play a pivotal role in the mass adoption of digital currencies and the inevitable shift from a fiat to a token-based economy; the new product confirms this.
Wirex’s Crypto Debit Card
Earlier in July, Wirex joined Mastercard’s principal membership to issue crypto debit cards. It became the first-crypto native platform to achieve principal membership with the company. Hence, the card is also the debut of Wirex’s switch from Visa to Mastercard.
Furthermore, it also holds all regulatory licenses from the UK’s Financial Conduct Authority (FCA) for issuing crypto cards in Europe. Apart from Europe, Wirex has its services in over 130 countries.
Wirex, which has 3.1 million total customers in the EEA and APAC, is currently exploring future merchant deals with large global payment providers. There has been an overwhelming response from users wanting to be the first to get their hands on their new product.