Crypto-Backed Card Wirex Celebrates Milestone in U.S. Registrations

It looks as though Wirex is taking a victory lap after a successful entry into the United States market. Today, the platform announced that 150,000 people have registered for the crypto app since it launched in the U.S. a mere six weeks ago. This figure adds to the more than 5 million users Wirex already has across Europe and Asia.

Wirex’s U.S. app allows users to trade and hold 37 different cryptocurrencies. Beyond that, the company also has a crypto-backed debit card, allowing customers to spend crypto anywhere Visa is accepted. Furthermore, Wirex’s Cryptoback program earns cardholders up to 2% in Wirex X-Points on their purchases. Plus, customers can take advantage of free domestic and international ATM withdrawals (up to $250 in withdrawals per month).

With the launch behind it, Wirex also notes that it plans on introducing new features and functions to the U.S. market soon. For example, the company plans to offer card top-ups via Plaid and ACH in the months ahead. Additionally, it will soon support payments with Apple Pay and Google Pay.

Commenting on the milestone and its quick arrival, Wirex USA’s managing director Harold Montgomery stated, “We’re delighted to tap into Visa’s expertise and global network to bring our award-winning app and card to millions of U.S. customers. Regardless of age, background or experience, we’re endeavoring to enable mainstream users to take advantage of the benefits of crypto in the everyday.” Montgomery continued, “Research shows that Americans are demanding easy-to-use, affordable and safe crypto products, and Wirex’s successful launch in the U.S. is already helping to meet these needs.”

Meanwhile, the VP of Visa Crypto AJ Shanley said of working with Wirex, “We want to serve as the bridge between the crypto ecosystem and our global network of merchants and financial institutions. We’re excited to work with innovative platforms like Wirex, to make it easy and seamless for consumers to spend from a crypto balance – anywhere Visa is accepted.”

Of course, Wirex’s early success in the U.S. comes as the crypto market has been experiencing quite a shakeup, with many assets recently plummeting in value. Because of this, those who might have shown more interest in Wirex a few months ago may end up delaying their decision to open an account. Then again, there is always that chance that new users could see this as a chance to “buy low.” Either way, while there are sure to be ups and downs ahead, Wirex seems to be off to a strong start so far.

Author

Jonathan Dyer

I'm a small town guy living in Los Angeles looking to make solid financial decisions. I write for a number of finance websites, including HuffingtonPost and Business2Community. I founded DyerNews.com in 2015 to focus on personal finance and the emerging FinTech markets.

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