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Wirex takes borderless payments to the APAC region


Pavel Matveev, co-founder, and CEO at Wirex

UK-based PayTech Wirex has launched a new Wirex Visa Travelcard at the Singapore FinTech Festival. The multicurrency travel card will empower customers across the APAC (Asia Pacific) region to spend multiple crypto and fiat currencies and earn crypto rewards wherever they travel.

The Wirex Visa Travelcard will enable customers to link multiple fiat currencies thereby avoiding hefty exchange fees during travel. The cardholders can pay at 54 million outlets around the world wherever Visa is accepted and avail free international ATM withdrawals. The card will also offer rewards to customers with up to 1.5% back in Bitcoin on all in-store purchases under its Cryptoback program, according to a statement.

To allow maximum people to experience the Wirex Visa Travelcard and benefit from its services, Wirex is also removing fees, including account management and traditional currency exchange fees, for a limited period.

“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,” Pavel Matveev, Wirex co-founder and CEO said.

Wirex launched the first Visa card that allowed customers to convert and spend their cryptocurrency in the real world and is expected to soon release a selection of fiat-backed stable coins.

Wirex connects traditional and new digital ecosystems on one borderless payment platform. It provides an alternative to conventional financial institutions and empowers retail and corporate customers to buy, exchange, and pay using fiat and cryptocurrency. The company has over 3 million customers across 130 countries and has processed more than US$2.6 billion in transactions to date.

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