Monday, 03 August 2020

Wirex to launch multicurrency Visa Travelcard with bitcoin rewards in Asia

Wirex announced the launch of its next generation Wirex Visa Travelcard, a multi-currency card that combines crypto with fiat currency on the same payment platform and pays rewards for use.

The card, which is compatible with more than 150 currencies and allows users to link multiple currencies without extra fees, is accepted at 54 million outlets on the global Visa network and offers free international ATM withdrawals.

The card also pays 1.5% back in bitcoin on all in-store purchases through its Cryptoback program.

"We're delighted to be able to offer the full Wirex experience and empower customers across APAC to take control of their crypto and traditional currency," Pavel Patveev, co-founder and CEO of Wirex, said in a company release. "This unparalleled functionality and versatility makes the Wirex Visa Travelcard the perfect travel companion, whether customers are traveling abroad for business or leisure."

He said the announcement, made at the Singapore FinTech Festival, is part of a general expansion of the company's services in the region, including 19 cold storage traditional and crypto accounts in various denominations as well as bitcoin and Etherium.

In order to expand the use of the Visa Travelcard to a wider audience, the company plans to waive account management and currency exchange fees for a limited time. The company also plans to release what it calls a revolutionary selection of fiat-backed stablecoins in the near future.

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