Wirex & Visa expand partnership to fuel Web3 payment adoption

By Gloria Methri

Wirex, the Web3 money app, has partnered with Visa to further the use of digital currencies in the UK and the European Economic Area (EEA).

This collaboration will explore new opportunities to leverage and integrate Visa cards and reduce friction in payment experiences.

A major highlight of this partnership is the launch of Wirex Pay, the modular Zero Knowledge (ZK) payment chain incubated by the FinTech company.

Wirex Pay is designed to revolutionise how users manage and spend both crypto and traditional currencies. This product aims to simplify transactions, offering a seamless way to handle funds. It showcases FinTech innovation by enabling seamless transactions between blockchain technology and traditional finance.

Wirex is a crypto-native company holding Visa principal license capabilities for card issuance. Together, the partners are developing projects that integrate blockchain technology with traditional financial systems, ensuring smooth and efficient transactions. As such, Visa will support Wirex’s growth in existing markets through enhanced marketing efforts, leveraging Visa assets and capabilities.

Sviatoslav Garal, Global Head of Payments at Wirex, said, “Being among the few crypto-native companies licensed by Visa for card issuance, and notably the first principal member of Visa Network in Europe, emphasizes Wirex’s pioneering role in the financial industry. At a time when the financial world is boldly moving towards Web3 and decentralisation, the need for robust solutions for global funds movement remains essential. Key ecosystem players like Visa play a tremendous role in this shift. Wirex, a renowned innovator in both Web3 and traditional finance, is thrilled to partner with Visa in bridging the gap between these two spaces.”

“Partnering with Wirex to help integrate blockchain technology with traditional finance, including the launch of Wirex Pay, aligns closely with our vision for the future of payments while highlighting the importance of collaboration in driving fintech innovation,” said Cuy Sheffield, Head of Crypto at Visa.