Wirex launches first phase of product overhaul; rolls out new Mastercard offering

By Megha Bhattacharya

UK-based next-generation payments company Wirex launch its product overhaul and a new card. The overhaul follows the release of the FinTech’s new features including five new currencies and free foreign exchange. The company also announced the launch of their Wirex Mastercard card along with an updated rewards programme. The new set of live features include five new currencies (HRK, CZK, PLN, RON, and HUF), free multicurrency individual IBANs and free SEPA multicurrency transfers and SEPA instant for EUR transfers and the removal of foreign exchange fees or currency conversion fees when topping-up with a local currency card.

“As a company, we have always believed that Wirex will play a pivotal role in the mass adoption of digital currencies and the inevitable shift from a fiat to a token-based economy; the new product confirms this. While other platforms creep towards mainstream adoption through iterative updates and improvements, Wirex makes the everyday use of digital currencies mainstream now,” said Wirex CEO and co-founder Pavel Matveev.

The first of a three-phase, revolutionary product update was recently made available to Wirex users in the EEA, in partnership with payment solution company LHV. The new Wirex card is linked to around 19 crypto and traditional currency accounts in the app and allows cardholders to spend multiple fiat and cryptocurrencies in day-to-day life without exchanging or offboarding. The company also announced new upgrades to its rewards programme, including up to 2% Cryptoback rewards for all Wirex card spending and up to 6% rewards on customers’ WXT balance annually.

Recently, Wirex announced a partnership with Railsbank that will see the London-based FinTech provide Wirex cards in the APAC region. The company also became the first native cryptocurrency platform to be granted a Mastercard principal membership, thus given the ability to issue payment cards directly.