Fintech Wirex Launches Services for New and Existing Customers in the UK

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Jun 23, 2022, 06:00 ET

LONDON, June 23, 2022 /PRNewswire/ -- Wirex, a leading digital payments platform, revealed today a variety of features for new and existing customers in the UK. Following constructive dialogue with UK regulators, the Financial Conduct Authority, the company has announced that they will be resuming services in the UK.

Founded with the goal to help users make the most out of their money, Wirex is an innovative payments platform that gives customers the ability to buy, hold, exchange and sell multiple different currencies from a centralised, intuitive app. With over 5 million customers worldwide, Wirex is now set to bring a variety of upgraded and innovative products to the UK market.

New UK users will now be able to order Wirex's Mastercard debit card, which allows holders to seamlessly spend a variety of currencies at over 81 million locations worldwide. Additionally, all UK users will now have access to increased daily top-up and spending limits, exclusive OTC exchange rates, and zero fees on FX and transfers to contacts.

Pavel Matveev, CEO and Co-Founder of Wirex expressed his support for the decision. "As we work towards financial inclusion, it's vital to collaborate with industry regulators to ensure security and transparency for all users. We're grateful to have worked alongside the FCA as we proactively contribute towards building a stable and innovative environment for fintech companies operating in the UK. We're delighted that users will not only have access to Wirex's arsenal of industry-leading products, but also the knowledge that we're operating with the best practices for our users and that we're leading by example in the fintech sector."

In the coming weeks, the company plans to add to their UK product offering by launching Faster Payments in the Wirex app as well as expanding account functionalities for GBP holders with the integration of account numbers and sort codes.

About Wirex

Wirex is a worldwide digital payment platform and regulated institution that has forged new rules in the digital payments space. In the UK, Wirex Limited is licensed as an emoney institution by the FCA and provides fiat services only. Wirex Digital, a Croatian company, currently provides crypto services to UK customers. In 2015, the firm developed the world's first crypto-enabled payment card that gives users the ability to seamlessly spend crypto and traditional currencies in real life.

Wirex was created in 2014 by CEOs and co-founders Pavel Matveev and Dmitry Lazarichev, who identified the need to open up the esoteric world of cryptocurrencies and make digital money accessible for everyone. With the core aim of making it as easy as possible to use digital assets in everyday life, Wirex provides a trusted and cost-effective service for crypto and traditional currency transactions by incorporating the next generation of payments infrastructure integrated with cryptocurrency blockchains.

With over 5 million customers across 130 countries, the company offers secure accounts that allow customers to easily store, buy and exchange multiple currencies instantly at the best live rates on one centralised mobile app. Quick and simple crypto transfer options are available, as well as the freedom to spend 150+ traditional and cryptocurrencies in more than 80 million locations around the world using the Wirex card.

Wirex continues to develop the product in line with market developments, whilst adhering to regional regulations and securing appropriate licensing where it exists. A proven industry pioneer, Wirex launched their own native utility token, WXT, and introduced the world's first crypto reward programme, Cryptoback™, which earns cardholders up to 8% back in WXT for every transaction they make.

To reflect the growth of the metaverse, throughout 2021, the company has expanded their product to enable mainstream access to DeFi. Starting with the launch of their popular X-Accounts feature, offering unprecedented levels of interest, Wirex has continued to add to their DeFi arsenal with the release of the non-custodial Wirex Wallet and a partnership with Nereus, a decentralised liquidity market. 

Wirex is based in London, with offices in Singapore, Kyiv, Dallas, Dublin and Atlanta. With over $5bn worth of transactions processed already and rapid expansion into new territories, including the US, Wirex is uniquely placed to support and promote the mass adoption of a cashless society through creative solutions. 

| wirexapp.com |

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SOURCE Wirex