Blockchain Revolution Series: Wirex Launches ‘Visa Multicurrency Travelcard’ To Target Borderless Payments in APAC

Wirex, a UK-FCA licensed platform, launched its Visa Multicurrency Travelcard in Singapore, addressing to mounting demands for a seamless cross-border travel payments solution in the Asia-Pacific. 

The company believes that the multicurrency travel card most likely to empower client base across the APAC region to seamlessly spend multiple crypto and fiat currencies, and earn crypto rewards wherever they travel. All cryptocurrency exchanges to legal tender fiat currency takes place before users transact on the Visa network.

The announcement came in at the Singapore Fintech Festival, the launch of the travelcard signals the UK FCA-approved startup’s expansion into APAC’s US$800 billion payments industry. With over 3 million existing users in Europe and USA, Wirex views to empower users to spend both fiat and cryptocurrencies at over 54 million locations worldwide with zero FX fees, while simultaneously raking up crypto rewards.

The launch of the Wirex Visa Travelcard is part of a general expansion of Wirex services for customers in the region, which is compatible with 19 secure, cold-storage traditional and cryptocurrency accounts, including USD, SGD, AUD, JPY, EUR, GBP, BTC and ETH among many others and access to industry-best OTC and interbank rates for crypto and traditional currency exchange. To allow as many people as possible to experience the Wirex Visa Travelcard and gain exposure to its innovative services, Wirex is removing fees, including account management and traditional currency exchange fees, for a limited period.

Pavel Matveev, Wirex co-founder and CEO, said, “we’re delighted to be able to offer the full Wirex experience and empower customers across APAC to take control of their crypto and traditional currency. This unparalleled functionality and versatility makes the Wirex Visa Travelcard the perfect travel companion, whether customers are travelling abroad for business or leisure.”

“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, the evolution of Wirex’s offering in APAC represents more than just the next stage in the platform’s growth strategy; it is a tangible example of our mission to provide a genuine alternative to conventional financial services by connecting traditional and digital ecosystems on one borderless payment platform,” Pavel added.

Since its creation in 2015, Wirex has established itself as a true pioneer in the payments industry with a number of innovative, world-first products to its name. It launched the first Visa card that allowed customers to convert and spend their cryptocurrency in the real world, and will soon release a revolutionary selection of fiat-backed stablecoins. Wirex is also known for its track record in business integrity and consumer protection, as it is one of only three cryptocurrency-enabled companies in the world to be granted a UK FCA e-money licence (No: 902025).