Wirex Becomes World's First Crypto-Native Platform to Secure Mastercard Principal Membership

Wirex - World's First Crypto Platform to Secure Mastercard Membership

On July 20, 2020, the British fintech company Wirex with an R&D center in Kyiv became the first crypto-processing platform to secure Mastercard principal membership.

Principal membership will enable Wirex to issue payment cards directly, offering its customers to instantly convert cryptocurrencies for traditional money and spend them freely wherever Mastercard cards are accepted.

We are very excited for Wirex to be the first crypto-native company granted principal membership from Mastercard,” “It represents a growing interest and recognition in the acceptance of cryptocurrency by leading bodies and regulators and will help us to realize our vision of empowering everyone to experience a world where all currencies, traditional and crypto, are equal.

— said Pavel Matveev, CEO, and co-founder of Wirex. 

Thus, with the support of the global payment giant Wirex will be able to even more actively promote the mass adoption of cryptocurrencies as a means of payment.

This is a very important and significant event for the global fintech industry. We have the opportunity to develop a technological solution directly from Mastercard and provide users with new and exciting functionality in the international market. On the other hand, it is a signal to the entire community that global finance is becoming more open to innovations and development.

— said Ruslan Kolodyazhniy CTO Wirex.

Currently, Mastercard is interested in adopting cryptocurrencies and creating an innovative experience for the crypto space.

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. Our work with Wirex and the wider crypto ecosystem is accelerating innovation and empowering consumers with more choice in the way they pay.

— said Raj Dhamodharan, Executive Vice President, Digital Asset and Blockchain Products and Partnerships, Mastercard.

The partnership gives Wirex the opportunity to continue improving its cutting-edge services, offering customers the ability to instantly buy, hold, exchange, and spend multiple traditional and cryptocurrencies at the best-in-market rates, within one platform. Users will also benefit from the world's first cryptocurrency rewards program, Cryptoback™, automatically giving customers up to 1.5% back in Bitcoin for every purchase made in-store.

Later this year, the company plans to launch a next-generation of Wirex card for customers in the EEA region, with game-changing features including additional currencies, free international ATM withdrawals, and next-to-no fees. Wirex also has plans to start issuing corporate cards for Wirex Business clients in the next few months, which will ensure Wirex continues to innovate in the space and make digital currency more accessible for the mass market.

Wirex is a UK-based FCA-licenced FinTech company and a global leader in hybrid finance with offices in London (UK), Atlanta (US), Toronto (Canada), Singapore, Tokyo (Japan). The R&D Center of Wirex is based in Kyiv, Ukraine.

Wirex is the first payment platform to seamlessly integrate digital and traditional currencies and to support multi-currency accounts, currency transfers, and exchange services. It has more than 3 mln users in 130 countries. Wirex has been growing rapidly over the past 18 months, with successful expansion into the vast APAC market, the release of its native Wirex Token (WXT).

The mission of the company is to enable everyone to use a single global platform for traditional and digital assets anytime, anywhere.

Мірія компанії – дати можливість кожному мати доступ до єдиної глобальної платформи для традиційних і цифрових активів будь-де, будь-коли.