London-based cryptocurrency card issuer Wirex has become the main member of Visa in Europe.This membership of the company allows Wirex to issue cards with the Visa logo, launch new products and apply for additional licenses. Visa main members are generally authorized to act as the issuing bank, meaning they can issue cards and offer processing services.
Currently, Wirex’s debit cards are issued by Visa. It is available in Europe and Asia, and users are allowed to convert crypto to fiat to buy and spend. Wirex says it has more than 3 million customers.
Wirex is entering the USA in the coming months, and it was informed that the launch is near. However, Wirex USA obtained its first money transfer license in August from the Banking and Finance Department of Georgia.
In addition to the debit card, Wirex also offers a bitcoin rewards program called Cryptoback, providing users with up to 1.5% cashback in bitcoin for each in-store transaction they make.
Wirex’s main membership in Visa makes it the second crypto firm to have the label. Coinbase became the first crypto company to be approved as a Visa parent earlier this year. In the meantime, let us remind you that Wirex is also the main member of Mastercard.