Wirex Announces Multi-Currency Visa Travelcard with “Cryptoback” Perk
Ready for the next generation of payments? The currencies platform Wirex says it has arrived. At this week’s Singapore FinTech Festival, the company unveiled its new Wirex Visa Travelcard. The card will launch in the Asia-Pacific (APAC) region, which they note has an $800 billion payments industry.
Wirex says that Visa Travelcard customers will be able to take advantage of the best exchange rates on fiat and crypto currencies. Among the fiat currencies that Visa Travelcard users can spend in are U.S. dollars, Singapore dollars, Japanese Yen, Euros, Australian dollars, and British Pounds. Meanwhile cardholders can also pay using Bitcoin, Ethereum, and others.
In addition to supporting more than 150 fiat currencies and offering free ATM withdrawals, the Wirex Visa Travelcard will also reward users with 1.5% back on their purchases. However, unlike traditional cards that might pay in fiat currency or points, Wirex’s Cryptoback program allows users to earn Bitcoin. Plus, in a bid to make their service more accessible to newcomers, Wirex is waiving its account management fees as well as its currency exchange fees for a limited time.
Announcing the card Wirex co-founder and CEO Pavel Matveev said, “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. This unparalleled functionality and versatility makes the Wirex Visa Travelcard the perfect travel companion, whether customers are [traveling] abroad for business or leisure.” Pavel went on to add, “We have witnessed an explosion in demand for hybrid fiat and crypto-enabled banking alternatives in APAC, where people need payments redesigned for the future, allowing them to unlock the value of their different currencies. The evolution of Wirex’s offering in APAC represents more than just the next stage in the platform’s growth strategy; it is a tangible example of our mission to provide a genuine alternative to conventional financial services by connecting traditional and digital ecosystems on one borderless payment platform.”
If you happen to be in Singapore this week, Wirex will be showing off its new Visa Travelcard at the FinTech Festival. Additionally the first 2,000 people to open a Wirex account and activate their card at the show will receive 20 Nano — “one of the most popular altcoins in the APAC region” according to the company. The Singapore FinTech Festival runs through November 13th.