EddieJayonCrypto

 15 Jul 24

tl;dr

Wirex and Visa have partnered to promote the use of digital currencies in the UK and the European Economic Area. The collaboration aims to integrate innovative Visa cards with Wirex's product innovation, including the launch of Wirex Pay, a Zero Knowledge payment chain. Wirex, a crypto-native compan...

Wirex and Visa have joined forces to promote the use of digital currencies in the UK and the European Economic Area. This collaboration aims to integrate innovative Visa cards with Wirex's product innovation, including the launch of Wirex Pay, a Zero Knowledge payment chain. As a crypto-native company with Visa principal license capabilities, Wirex will work with Visa to integrate blockchain technology with traditional financial systems, facilitating seamless transactions in multiple currencies and contributing to the adoption of a cashless society.

Wirex and Visa's partnership will explore new opportunities to leverage and integrate innovative Visa cards, aiming to reduce friction in payment experiences. By combining the strengths of both companies, consumers will benefit from the trust and confidence of Visa’s payment network along with Wirex’s product innovation. A major highlight of this collaboration is the launch of Wirex Pay, the modular Zero Knowledge (ZK) payment chain designed to revolutionize how users manage and spend both crypto and traditional currencies, providing a seamless way to handle funds and streamline transactions.

Wirex, a leading Web3 money app, holds Visa principal license capabilities for card issuance and is committed to integrating blockchain technology with traditional financial systems to ensure smooth and efficient transactions. Visa will support Wirex’s growth in existing markets through enhanced marketing efforts, leveraging Visa assets and capabilities.

Sviatoslav Garal, Global Head of Payments at Wirex, emphasized Wirex’s pioneering role in the financial industry as one of the few crypto-native companies licensed by Visa for card issuance and the first principal member of Visa Network in Europe. He highlighted the essential need for robust solutions for global funds movement in the evolving Web3 and decentralization landscape, emphasizing the significant role played by key ecosystem players like Visa.

Cuy Sheffield, Head of Crypto at Visa, stressed the strategic alignment of the collaboration with Wirex's vision for the future of payments and the importance of collaboration in driving fintech innovation.

Wirex is a prominent UK-based digital payments platform with over 6 million customers across 130 countries. It offers secure accounts, enabling users to store, purchase, and exchange multiple currencies seamlessly and aims to contribute to the adoption of a cashless society by facilitating straightforward transactions in various currencies worldwide.

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