Wirex Becomes a Principal Member of Visa

The British processing service Wirex has obtained Principal Member status (Principal Member) of the Visa payment system.

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https://t.co/zyoM1r8LqH

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— Wirex (@wirexapp) December 22, 2020

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\nAccording to the statement, the membership will provide the company with \”a huge range of benefits\” and help promote the widespread adoption of cryptocurrencies.

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Wirex will be able to issue Visa cards independently, offer new innovative products, and apply for additional licenses, the company noted.

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Currently, Wirex’s cryptocurrency-enabled debit cards are issued by the payments giant. The company has been working with Visa since 2014.

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\”Virtual currencies can enhance the value of digital payments for more people and places. We are excited to work with innovative fintech companies like Wirex, and enable their customers to use digital currencies at more than 61 million points of sale in the Visa network,\” said Kai Sheffield, Senior Director and Head of Crypto at Visa.

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Wirex stressed that they are only the second representative of the cryptocurrency industry to obtain Visa Principal Member status. In February, Coinbase, the largest U.S. cryptocurrency company, became a full member of the payment network.

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Earlier, in July, Wirex became a licensed participant in the Mastercard network.

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