Cryptocurrency

Mastercard allows Wirex to issue cryptocurrency cards

Cryptocurrency debit card issuer Wirex has become the first cryptocurrency company to be able to directly issue Mastercard payment cards to its customers.

The Mastercard payment system has granted the status of the main participant to the issuer of Wirex cryptocurrency cards. Wirex is regulated by the UK Financial Conduct Authority (FCA). The company offers a payment system that automatically exchanges cryptocurrencies for fiat currencies.

Initially, Wirex cards were issued in cooperation with Visa. The company will now be able to use the Mastercard network for payments in fiat currencies. Mastercard processed more than $ 1.6 trillion in payments in the first quarter of 2020.

Raj Dhamodharan, Executive Vice President of Digital Assets and Blockchain at Mastercard, said the company wants to work in the emerging cryptocurrency industry. The company has streamlined its payment network membership application processes for other cryptocurrency companies, as well as gaining access to some of its accelerator programs.

Recall that in February Mastercard joined the Blockchain Education Alliance, and last year it began to cooperate with the R3 blockchain consortium. In addition, Mastercard joined the Marco Polo blockchain trade finance platform last fall .

About author

Experienced Founder with a demonstrated history of working in the newspapers industry. Skilled in Data Research, Management, Investment Research, Teamwork, and Leadership. Influencing the technology, people, and technical analysis of the Cryptocurrency and Blockchain world.
Related posts
CryptocurrencyExchanges

PayPal Customers Are Now Allowed To Use Cryptocurrency To Make Payments To Merchants Worldwide

BitcoinCryptocurrencyEthereum

Bitcoin Recovers $56,000: ETH Recovers $1,700 (Observed Over The Weekend)

Cryptocurrency

Vladimir Putin: "we need to stop illegal transactions with digital assets"

CryptocurrencyExchanges

Coinbase exchange valued at $ 943 million in preparation for direct listing on Nasdaq

Sign up for our newsletter and stay informed

0 0 vote
Page Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
USD
0
Would love your thoughts, please comment.x
()
x