WIREX to Receive Principal Membership with MasterCard Partners

News / 20.07.2020

Wirex announced a partnership with Mastercard taking place in record books as the first crypto native platform to receive principal membership from Mastercard, enabling them to issue payment cards to users.

The trading platform expressed in their tweet the possibilities that this collaboration has opened doors to. It has been vigilant to facilitate mainstream adoption as the ultimate payment solution for users worldwide. They further mentioned it as a gateway to exploring new spaces in cryptocurrencies and Fintech.

Overview of the Revolutionary Partnership

In recent years, there is a growing demand for cryptocurrency use as a fiat currency option, with over 18% of the world’s population owning cryptos. This move necessitates an easy way to buy, sell, and exchange cryptocurrencies, including traditional currencies.

The ability to hand payment cards to customers will enable them to have a straightforward approach to buying, exchanging, and holding cryptos. Furthermore, they can access instant conversion of cryptos to fiat that can be spent anywhere Mastercard is accepted.

Another exciting chance for customers to earn crypto is through the Wirex Cryptoback™ rewards program. It offers back users up to 1.5% Bitcoin for buying goods in-store.

Mastercard’s Contribution to the Crypto World

Raj Dhamodharan, the Executive Vice President, Digital Asset and Blockchain Products, and Partnerships of Mastercard mentioned that crypto markets were on the rise, and Mastercard would be taking steps to provide users with safe and secure undertakings in the economy. He also stated that their collaboration with Wirex is bound to accelerate innovations and to facilitate customers with a broader range of payment options.

Mastercard is encouraging users to join their Mastercard Accelerate program as a chance to grow in the crypto market in the spirit of the Wirex merger. Crypto enthusiasts and Fintech will have a connection to personalized plans and tools for growth, variegation, and penetration into the crypto world markets.

Moreover, participants can leverage Mastercard’s technology; achieve high speeds, scalability, and flexibility. The platform will offer necessary knowledge regarding markets, a secure network, and interactions with the Mastercard community, thus, a more extensive reach as far as trade is concerned. Mastercard requires viable partners in the program to follow its core principles to achieve a higher purpose.

Crypto Adoption Incoming?

The CEO and Co-founder of Wirex expressed that this partnership with Mastercard indicated growth in interest and acceptance of cryptocurrencies. He saw it as a chance to expand their vision to have everyone embrace a world where cryptos and fiat currencies had an equal stand.

Wirex currently has over 3 million users, and is still spiking, registered in 130 countries globally. The partnership will lure more people into the network as its efficiency is unbeaten. Wirex is regulated under the UK Financial Conduct Authority with its services available to Visa cards and mobile applications. 

Wirex Token is also available and a variety of offices worldwide open for customers. New innovations are yet to come from the platform, including additional platforms and free ATMs. It is the beginning of a use breakout by both crypto and traditional currency users for a better payment experience.

After realizing the setbacks of centralization in the financial industry, Carol has dedicated her career to apprise everyone on the benefits of blockchain technology. When she is not writing, she’s probably somewhere in the park reading a book.