Earlier this week, Wirex announced a partnership with Visa, aiming to promote the use of digital currencies in the UK and the European Economic Area (EEA).
A key aspect of this collaboration is the launch of Wirex Pay, a modular Zero Knowledge (ZK) payment chain developed by Wirex. Wirex Pay is designed to simplify how users manage and spend both cryptocurrencies and traditional currencies, enabling smoother interactions between blockchain technology and traditional finance. Wirex, with Visa principal license capabilities for card issuance, is committed to integrating blockchain technology with traditional financial systems. Visa will support Wirex’s growth in existing markets through marketing efforts, leveraging its assets and capabilities.
Sviatoslav Garal, Global Head of Payments at Wirex, noted, “Being among the few crypto-native companies licensed by Visa for card issuance, and the first principal member of Visa Network in Europe, highlights Wirex’s role in the financial industry. As the financial world moves towards Web3 and decentralisation, the need for robust global funds movement solutions remains essential. Key players like Visa are instrumental in this shift. Wirex is pleased to partner with Visa to bridge the gap between these two spaces.”
Cuy Sheffield, Head of Crypto at Visa, said, “Partnering with Wirex to integrate blockchain technology with traditional finance, including the launch of Wirex Pay, aligns with our vision for the future of payments. This partnership underscores the importance of collaboration in driving fintech innovation.”
This partnership aims to provide users with more efficient and secure ways to manage and spend their funds, blending blockchain technology with traditional finance.
