A new Visa card launched by borderless payment platform Wirex rewards users with 1.5% back in bitcoin on all in-store purchases, allowing users to earn crypto rewards for using it.
According to a press release shared with CryptoGlobe, Wirex announced its new Visa Travelcard at the Singapore FinTech Festival. The card supports more than 150 currencies and processes cryptocurrency exchanges to fiat currency before transacting on the visa network.
It’s reportedly supported anywhere Visa is accepted and allows for free ATM withdrawals. Wirex touts its “first in the world” program allowing users to earn cashback in cryptocurrency. Per the firm the first 2,000 to order and activate a Wirex Travelcard will receive 20 Nano.
?Calling all Wirex customers in:
Early access to the brand-new Wirex Travelcards empowering borderless spending in #crypto* & traditional currency is here!
— Wirex (@wirexapp) November 11, 2019
To get users onboard Wirex is removing management and traditional currency exchange fees for a limited period. The card is set to be available across the Asia-Pacific region. The firm’s CEO Pavel Matveev was quoted as saying it “witnessed an explosion in demand for hybrid fiat and crypto-enabled banking alternatives in APAC, where people need payments redesigned for the future.”
Wirex is one of the only cryptocurrency-related companies in the world to have been granted a UK FCA e-money license. Earlier this year it launched the WXT token on OK Jumpstart, OKEx’s IEO platform.
The firm’s announcement added it’ll soon release a “revolutionary selection of fiat-backed stablecoins.” Wirex is one of various fintech firms entering the crypto space. Revolut, for example, added stop orders for trading BTC, ETH, and BCH and others earlier this year.
Featured image by Nathan Dumlao on Unsplash.