Monday, August 10, 2020



  Wirex has received its first money transmission license in the US, where the company is now preparing to launch a "next-generation cryptocurrency platform linked to issue cards."

US Expansion

Wirex announced on Friday that it had received its first US money transfer license and was now preparing to launch its services in the country. The license, issued by the Georgia state Department of Banking and Finance on July 30, allows the company to conduct cryptocurrency exchange business in the state.

The announcement comes after Wirex revealed that it will launch a "next-generation cryptocurrency platform related to spending cards in the US". The UK-based company confirmed, "We are planning to launch our service in the US in the coming months."

The company says it has 3 million customers in 130 countries and its cards can be used in more than 54 million locations that Visa accepts. Wirex is regulated by the UK Financial Conduct Authority with a license to issue cards in Europe.

Wirex currently supports 19 cryptocurrencies and traditional currency wallets: USD, SGD, AUD, JPY, HKD, EUR, GBP, CZK, MXN, CAD, CHF, BTC, ETH, LTC, XRP, WXT, DAI, NANO and XLM. It also offers Cryptoback, a crypto rewards program that automatically gives customers up to 1.5% back in bitcoin for every purchase made in-store.

Last month, Wirex became the first cryptocurrency-native platform to secure a Mastercard principal membership. The company explained that this enables Wirex to "issue payment cards directly, offering even more convenience, reduced costs and faster transactions on a platform that is striving to make all currencies equal."

 What do you think about Wirex's U.S. expansion? Let us know in the comments section below.

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