Wirex, a cryptocurrency and fiat transfer platform headquartered in UK’s London, has recently unveiled its latest offering in the form of next-gen Wirex Visa Travelcard. The firm believes this card could help transform the 800 billion dollar payments industry of APAC. The official announcement was made by Wirex at the ongoing Singapore Fintech Festival, which would end on November 13, 2019.
The card launch is a part of the company’s general expansion plans of its services for the consumers in the said region. It includes 19 secured, cold-storage crypto and traditional accounts that include SGD, USD, JPY, EUR, AUD, GBP, ETH, and BTC, in addition to the best OTC, as well as interbank rate, access for traditional and digital currency exchange.
The CEO and co-founder of Wirex, Pavel Matveev, expressed that their offering’s evolution in the APAC region depicts much more than the next step in their growth strategy. Continuing further, Matveev said that it’s a tangible instance of its mission to offer a real alternative to traditional financial services by linking the digital and conventional ecosystems on a borderless payments platform.
As per the announcement, the multicurrency Travelcard will let the users across the region of APAC, spend multiple digital and traditional currencies seamlessly and earn rewards in crypto anywhere they travel.
The press release went on to reveal that this Visa Travelcard would be compatible with over 150 currencies, letting consumers link numerous fiat currencies easily. As a result, users will be able to avoid expensive exchange fees while traveling. The crypto to fiat exchange would occur before a user transacts on the Visa network.
Besides, the Wirex cardholders can make payments at as many as 54 million outlets across the world, where Visa is acceptable, along with free global ATM withdrawals. The firm also enables customers to earn back up to 1.5% in BTC via their Cryptoback program on all the purchases carried out in-store.
The Wirex booth at the ongoing fintech festival is offering live registration to all for the card services. The first 2000 people who register, order, as well as activate the card with Wirex, would get 20 Nano, a popular APAC altcoin. Other than that, the firm is also eliminating fees, including conventional currency exchange and account management fees, for a short period.