Wirex, the cryptocurrency bank, is launching new crypto debit cards in Europe. According to a reliable media report, the new generation debit cards come with several payment functionalities and support multiple currency accounts. The crypto bank issued the first batch of the new plastic Visa debit cards Thursdays, the source reveals.
The new Visa cards and redesigned Wirex accounts have been available for UK users since March 8. However, customers from Italy, France, and Germany will start accessing the services by March 20. The launching of the services for other European Union countries is set for March 27.
Raphael Shalaby, Wirex Community Manager, had earlier this week confirmed both external and internal successful beta tests using multiple payment processors. It is reported that purchases have been made from Amazon using the Wirex cards. Speaking to the media, Shalaby said that rollout will begin within two weeks on a country-by-country basis. “The plastic cards are currently being manufactured. Their release is expected to take another 5 to 6 weeks. The virtual cards are days away,” he added.
Wirex will offer three different types of new cards- a virtual card, a pre-paid debit card (that looks like Wirex’s original card and available for various currencies), and a physical card which will allow a wide range of payments.
Information on Wirex’s website reveals that customers will access their new virtual cards immediately after they complete registration. The cards will be free of charge. However, ordering the new plastic card requires one to join a waiting list, and according to Shalaby, customers on the waiting list will be given priority
Customers can use Wirex cards for instant exchanges between fiat money and digital coins and make crypto payments. Wirex has recently claimed that, at present, it is the only provider giving European users the chance to make payments by converting cryptocurrency. In a statement quoted by Russian reporters, Pavel Matveev, CEO and co-founder of Wirex said that “withdrawing money at ATMs and shopping and purchasing goods online is now much easier.” The CEO confirmed there is an integration of crypto wallet accounts with several Visa debit cards.
Earlier this year, Visa Europe ended its cooperation with Wavecrest, a Gibraltar-based payment provider, a move that saw many cryptocurrency card issuers stop operations. Visa later explained that the ending of its cooperation with Wavecrest was due to “continued non-compliance with rules of operation. However, the cryptocurrency-fiat card programs and services in other jurisdictions wouldn’t be affected, Visa confirmed.
Markets in Japan and South East Asia will also access the services
Wirex says that it has similar proposals coming for crypto users in Japan and Southeast Asia. The company plans to introduce the new cards in various stages in a bid to ensure secure and stable support.
Wirex is among the top providers of cryptocurrency wallets that are linked to virtual and physical debit cards. The new cards will allow for instant and free Bitcoin transfers between user account holders. The transfers will have multi-signature Bitcoin addresses to improve security. Wirex assures users that now, encryption is better, the risk of fraud has been greatly reduced and that users can enjoy more freedom while doing transactions.
Both virtual and plastic cards will support “Verified-by-Visa” 3D-secure transactions, and “as soon as the virtual cards become available, the Buy BTC exchange feature will be switched on,” says a previous post on Wirex’s website.
