Wirex announced a significant milestone toward mainstream adoption in the cryptocurrency industry. This crypto-native platform will be the first one to partner with the credit giant, Mastercard. The new partnership between Wirex and Mastercard will give principal membership to the crypto firm, which means it can issue credit cards.
Cryptocurrency Credit Cards Coming Soon
Wirex users can benefit from the Principal Membership in the Mastercard system. It means the crypto-payment platform can issue credit card for them that leverages the underlying infrastructure of Mastercard. All of the Mastercard partner merchants will eventually support the cryptocurrency-based credit cards from Wirext. The company can also develop its current technologies with the help of the credit giant and provide more services to their customers.
Mastercard submits a vital step toward mainstream cryptocurrency usage by partnering with Wirex. It has the crucial reputation that cryptocurrency industry has always needed to gain attraction from regular users. Wirex is one of the few UK-based regulated crypto firms that act an e-money institution and serves more than three million customers in 130 countries. It can now benefit from this reputation to attract more customers.
Wirex debit card was the first one in the world to provide instant payments with cryptocurrency. More than 54 million locations around the world accept this card. Now with the help of Mastercard programs, many more merchants will be added to the supporting list of Wirex’s debit and credit card.
The news about the partnership with Mastercard comes after 18 months of growth momentum for Wirex. It had successfully expanded into the APAC market, issued WXT native token and opened an office in Japan in the past months. Pavel Matveev, CEO and co-founder of Wirex, said about the new partnership.
“Wirex is proud to have become a principal member of Mastercard. It has always been our vision to empower everyone to enjoy the advantages of a world where all currencies are equal, and this membership is a step in the right direction. We’ve been working hard to develop a cheaper, faster and safer platform, and we’re excited to announce some revolutionary advancements over the next few months that will change the fintech and crypto spaces forever.”
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