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Wirex, a UK FCA-regulated digital money platform, has launched a new next-generation Wirex Visa Travelcard, which it believes can transform APAC’s $800 billion payments industry.
The company made the announcement at the Singapore FinTech Festival. Using the multicurrency travel card, customers across the APAC region will be able to seamlessly spend multiple crypto and fiat currencies, and earn crypto rewards wherever they travel. All cryptocurrency exchanges to fiat currency take place before users transact on the Visa network.
According to a press release, the Wirex Visa Travelcard is compatible with more than 150 currencies. It enables customers to link multiple fiat currencies, avoiding costly exchange fees during travel.
Wirex cardholders would be able to make payments at 54 million outlets worldwide – anywhere Visa is accepted and free international ATM withdrawals. Furthermore, customers can get up to 1.5% back in Bitcoin on all in-store purchases through its Cryptoback programme.
Wirex said that the launch of the card is part of general expansion of its services for customers in the region, which includes 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.
“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 Matveev, Wirex co-founder and CEO, said.
At the Singapore FinTech Festival running from November 11 to 13, Wirex will be in Hall 4 at booth 4F29. The booth will include live registration for card services, and the first 2000 people to register with Wirex, order and activate their card will receive 20 Nano, one of the most popular altcoins in the APAC region.
As a promotional offer, Wirex is removing fees, including account management and traditional currency exchange fees, for a limited period.
